E.W. Scripps Company (The) (NASDAQ:SSP) Receives $6.95 Average PT from Analysts

E.W. Scripps Company (The) (NASDAQ:SSP) has been assigned a consensus rating of “Reduce” from the five analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $6.95.

A number of research firms recently weighed in on SSP. Guggenheim reiterated a “neutral” rating on shares of E.W. Scripps in a research note on Friday, March 6th. Zacks Research lowered E.W. Scripps from a “hold” rating to a “strong sell” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of E.W. Scripps in a research report on Monday, December 22nd. Benchmark boosted their price objective on E.W. Scripps from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Wells Fargo & Company increased their price objective on E.W. Scripps from $3.00 to $3.90 and gave the stock an “equal weight” rating in a report on Thursday, January 22nd.

E.W. Scripps Price Performance

Shares of NASDAQ:SSP opened at $3.65 on Tuesday. The firm has a market capitalization of $324.96 million, a PE ratio of -1.95 and a beta of 0.57. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 3.13. The company has a 50-day moving average price of $3.68 and a two-hundred day moving average price of $3.48. E.W. Scripps has a twelve month low of $1.90 and a twelve month high of $4.98.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.52). The business had revenue of $560.26 million during the quarter, compared to the consensus estimate of $550.82 million. E.W. Scripps had a negative net margin of 4.69% and a negative return on equity of 0.27%. Equities analysts forecast that E.W. Scripps will post 1.07 EPS for the current year.

Insider Activity

In other news, major shareholder Anthony S. Granado purchased 6,852 shares of the stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $4.43 per share, with a total value of $30,354.36. Following the completion of the acquisition, the insider owned 41,512 shares in the company, valued at $183,898.16. This represents a 19.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Ellen B. Granado acquired 18,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was purchased at an average price of $4.46 per share, with a total value of $80,280.00. Following the completion of the transaction, the insider directly owned 28,000 shares of the company’s stock, valued at $124,880. This trade represents a 180.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 1,332,085 shares of company stock valued at $5,733,766. 3.62% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Invesco Ltd. grew its position in shares of E.W. Scripps by 1.4% during the 4th quarter. Invesco Ltd. now owns 246,777 shares of the company’s stock valued at $985,000 after purchasing an additional 3,472 shares in the last quarter. Prudential Financial Inc. raised its position in shares of E.W. Scripps by 2.4% in the second quarter. Prudential Financial Inc. now owns 182,344 shares of the company’s stock worth $536,000 after buying an additional 4,342 shares in the last quarter. MetLife Investment Management LLC boosted its stake in E.W. Scripps by 18.2% during the fourth quarter. MetLife Investment Management LLC now owns 31,297 shares of the company’s stock valued at $125,000 after buying an additional 4,819 shares during the period. Diversified Trust Co. boosted its stake in E.W. Scripps by 25.8% during the fourth quarter. Diversified Trust Co. now owns 24,845 shares of the company’s stock valued at $99,000 after buying an additional 5,101 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in E.W. Scripps by 67.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company’s stock worth $37,000 after buying an additional 5,992 shares in the last quarter. 67.81% of the stock is owned by institutional investors.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.