E.W. Scripps (NASDAQ:SSP) Upgraded by StockNews.com to “Hold” Rating

E.W. Scripps (NASDAQ:SSP) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Benchmark dropped their price objective on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, November 5th.

E.W. Scripps Trading Down 2.5 %

SSP stock opened at $2.34 on Monday. The business has a fifty day moving average price of $2.33 and a 200 day moving average price of $2.73. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.50. E.W. Scripps has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The stock has a market capitalization of $201.52 million, a price-to-earnings ratio of -0.75 and a beta of 1.66.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.19). The company had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. During the same period last year, the company earned ($0.15) earnings per share. Analysts expect that E.W. Scripps will post -1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Sei Investments Co. bought a new stake in shares of E.W. Scripps in the second quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC acquired a new position in E.W. Scripps in the second quarter valued at about $39,000. Diversified Trust Co acquired a new stake in E.W. Scripps during the third quarter worth about $42,000. CWM LLC lifted its holdings in shares of E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares during the period. Finally, Virtu Financial LLC acquired a new position in E.W. Scripps during the first quarter valued at approximately $50,000. 67.81% of the stock is owned by institutional investors and hedge funds.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.