E.W. Scripps Company (The) (NYSE:SSP) shares fell 8.4% during mid-day trading on Friday . The stock traded as low as $15.29 and last traded at $15.63. 1,018,461 shares traded hands during mid-day trading, an increase of 243% from the average session volume of 296,739 shares. The stock had previously closed at $17.06.
Several brokerages have issued reports on SSP. Benchmark Co. reaffirmed a “buy” rating and issued a $26.00 target price on shares of E.W. Scripps Company (The) in a report on Thursday, July 13th. Zacks Investment Research cut shares of E.W. Scripps Company (The) from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 target price on shares of E.W. Scripps Company (The) in a report on Friday, July 14th. Noble Financial reaffirmed a “buy” rating on shares of E.W. Scripps Company (The) in a report on Wednesday, October 4th. Finally, Guggenheim assumed coverage on shares of E.W. Scripps Company (The) in a report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.25.
The firm has a market cap of $1,280.00, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 32.73 and a beta of 2.01. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.84 and a current ratio of 3.84.
E.W. Scripps Company (The) (NYSE:SSP) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $216.45 million during the quarter, compared to analysts’ expectations of $219.04 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 down 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. analysts anticipate that E.W. Scripps Company will post 0.17 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its holdings in E.W. Scripps Company (The) by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares during the period. Crossmark Global Holdings Inc. bought a new position in E.W. Scripps Company (The) during the third quarter worth about $203,000. State of Alaska Department of Revenue grew its holdings in E.W. Scripps Company (The) by 79.4% during the second quarter. State of Alaska Department of Revenue now owns 11,125 shares of the company’s stock worth $198,000 after purchasing an additional 4,925 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in E.W. Scripps Company (The) during the second quarter worth about $214,000. Finally, Piedmont Investment Advisors LLC bought a new position in E.W. Scripps Company (The) during the second quarter worth about $217,000. Institutional investors and hedge funds own 75.04% of the company’s stock.
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About E.W. Scripps Company (The)
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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