E.W. Scripps (NASDAQ:SSP) Raised to Hold at Wall Street Zen

E.W. Scripps (NASDAQ:SSP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Wells Fargo & Company increased their target price on shares of E.W. Scripps from $2.80 to $4.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th.

E.W. Scripps Trading Down 3.0%

Shares of SSP stock opened at $2.90 on Friday. E.W. Scripps has a 52-week low of $1.36 and a 52-week high of $4.17. The stock has a market cap of $254.36 million, a price-to-earnings ratio of 3.15 and a beta of 1.01. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a fifty day moving average of $2.98 and a 200-day moving average of $2.48.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $524.39 million during the quarter, compared to analysts’ expectations of $520.04 million. E.W. Scripps had a net margin of 5.71% and a return on equity of 17.81%. On average, equities research analysts forecast that E.W. Scripps will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On E.W. Scripps

Hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company bought a new stake in E.W. Scripps during the 4th quarter worth about $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in E.W. Scripps by 111.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company’s stock worth $26,000 after acquiring an additional 4,715 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in E.W. Scripps during the 4th quarter worth about $29,000. Tower Research Capital LLC TRC grew its holdings in E.W. Scripps by 137.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company’s stock worth $30,000 after acquiring an additional 7,927 shares during the last quarter. Finally, Group One Trading LLC boosted its stake in shares of E.W. Scripps by 479.9% in the 4th quarter. Group One Trading LLC now owns 13,998 shares of the company’s stock valued at $31,000 after purchasing an additional 11,584 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.

E.W. Scripps Company Profile

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.