E.W. Scripps Company (The) (NASDAQ:SSP) Stock Has Average Price Target of $5.90 According to Brokerages

Shares of E.W. Scripps Company (The) (NASDAQ:SSP) have earned an average rating of “Hold” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $5.90.

A number of research firms have recently commented on SSP. Weiss Ratings reissued a “sell (d)” rating on shares of E.W. Scripps in a research report on Wednesday, August 26th. Wall Street Zen raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Finally, Wells Fargo & Company lowered their target price on shares of E.W. Scripps from $4.70 to $3.80 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th.

Institutional Investors Weigh In On E.W. Scripps

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its stake in shares of E.W. Scripps by 13.9% in the first quarter. Bank of America Corp DE now owns 71,890 shares of the company’s stock worth $267,000 after purchasing an additional 8,746 shares during the period. Empowered Funds LLC boosted its stake in E.W. Scripps by 9.9% during the 1st quarter. Empowered Funds LLC now owns 469,174 shares of the company’s stock valued at $1,745,000 after purchasing an additional 42,138 shares during the period. Rangeley Capital LLC acquired a new stake in E.W. Scripps in the 1st quarter valued at approximately $318,000. Gabelli Funds LLC grew its holdings in E.W. Scripps by 23.2% in the 1st quarter. Gabelli Funds LLC now owns 1,375,524 shares of the company’s stock valued at $5,117,000 after buying an additional 258,908 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in E.W. Scripps by 233.3% in the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 241,500 shares of the company’s stock worth $898,000 after buying an additional 169,050 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.

E.W. Scripps Stock Performance

Shares of NASDAQ SSP opened at $2.87 on Tuesday. The business’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $3.48. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.34 and a current ratio of 1.34. E.W. Scripps has a 52 week low of $2.02 and a 52 week high of $5.39. The firm has a market cap of $265.96 million, a price-to-earnings ratio of -0.21 and a beta of 0.68.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Thursday, August 6th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.19. E.W. Scripps had a negative return on equity of 4.58% and a negative net margin of 58.02%.The firm had revenue of $490.40 million during the quarter, compared to analyst estimates of $511.65 million.

E.W. Scripps Company Profile

The E.W. Scripps Company is a diversified media company that operates local television stations and national broadcast and digital media networks. Its local media business provides news, weather, sports and community programming through television stations serving markets across the United States, along with related digital platforms.

Scripps’ national portfolio includes Scripps News, a 24-hour news service, and entertainment and specialty networks such as ION, Bounce, Court TV, Grit and ION Mystery.