E.W. Scripps Company (The) (NYSE:SSP) Downgraded to “Hold” at Zacks Investment Research

E.W. Scripps Company (The) (NYSE:SSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, August 8th.

According to Zacks, “E. W. Scripps Company is a diversified media company operating in three reportable segments: newspapers, broadcast television and category television. The company operates daily newspapers, broadcast TV stations and cable television networks. The company’s cable television network brands include Home & Garden Television, Food Network, Do It Yourself, and Fine Living. The company also operates Scripps Howard News Service, United Media, the worldwide licensing and syndication home of PEANUTS and DILBERT, and Web sites, including hgtv.com, foodtv.com, and diynet.com. “

Several other research firms also recently commented on SSP. BidaskClub upgraded E.W. Scripps Company (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Noble Financial restated a “buy” rating on shares of E.W. Scripps Company (The) in a research report on Wednesday, August 2nd. Jefferies Group LLC upgraded E.W. Scripps Company (The) to a “hold” rating and set a $20.00 target price for the company in a research report on Monday, June 5th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $26.00 price objective on shares of E.W. Scripps Company (The) in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.00.

E.W. Scripps Company (NYSE SSP) traded down 0.44% during midday trading on Tuesday, hitting $18.00. The company had a trading volume of 548,108 shares. E.W. Scripps Company has a one year low of $12.16 and a one year high of $24.15. The company’s 50 day moving average is $18.56 and its 200-day moving average is $20.05. The company has a market cap of $1.48 billion, a P/E ratio of 26.28 and a beta of 2.01.

E.W. Scripps Company (The) (NYSE:SSP) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The company had revenue of $231.82 million for the quarter, compared to analyst estimates of $232.04 million. E.W. Scripps Company (The) had a return on equity of 5.90% and a net margin of 6.05%. E.W. Scripps Company (The)’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. On average, equities analysts predict that E.W. Scripps Company will post $0.14 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in SSP. Public Employees Retirement System of Ohio boosted its stake in shares of E.W. Scripps Company (The) by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 103,184 shares of the company’s stock worth $1,838,000 after buying an additional 10,427 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of E.W. Scripps Company (The) during the second quarter worth approximately $217,000. State Street Corp boosted its stake in shares of E.W. Scripps Company (The) by 3.3% in the second quarter. State Street Corp now owns 1,368,829 shares of the company’s stock worth $24,379,000 after buying an additional 43,847 shares during the period. Royal Bank of Canada boosted its stake in shares of E.W. Scripps Company (The) by 2.5% in the second quarter. Royal Bank of Canada now owns 26,157 shares of the company’s stock worth $467,000 after buying an additional 628 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of E.W. Scripps Company (The) by 9.4% in the second quarter. Voya Investment Management LLC now owns 28,781 shares of the company’s stock worth $513,000 after buying an additional 2,472 shares during the period. Institutional investors own 74.85% of the company’s stock.

E.W. Scripps Company (The) Company Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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