E.W. Scripps Company (The) (NASDAQ:SSP) Given Consensus Recommendation of “Reduce” by Analysts

E.W. Scripps Company (The) (NASDAQ:SSP) has been given a consensus rating of “Reduce” by the five research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.95.

A number of brokerages recently issued reports on SSP. Guggenheim reissued a “neutral” rating on shares of E.W. Scripps in a research note on Friday. Wells Fargo & Company raised their price objective on shares of E.W. Scripps from $3.00 to $3.90 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of E.W. Scripps in a report on Monday, December 22nd. Benchmark upped their price objective on shares of 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, Zacks Research cut E.W. Scripps from a “hold” rating to a “strong sell” rating in a research note on Friday, February 27th.

Key Stories Impacting E.W. Scripps

Here are the key news stories impacting E.W. Scripps this week:

• Positive Sentiment: Large insider purchases: CEO Adam Symson bought 26,910 shares (~$3.69 avg) and several directors also bought (Charles Barmonde 40,000; Monica Holcomb 7,500). Insider buying from leadership is being read as confidence in the business. CEO Purchases 26,910 Shares
• Positive Sentiment: Major shareholder increases position: Corina S. Granado disclosed large buys (260,000 shares at ~$3.91 on Mar 3 and 69,976 shares at ~$4.17 on Mar 4), taking her stake above 10% — a material, visible vote of confidence that reduces free float. SEC Filing
• Positive Sentiment: Acquisition expands local footprint: Scripps agreed to buy WTVQ (Lexington, KY) from Morris Network for $15.8M — a small, strategic TV-market add that could modestly lift regional ad revenue and distribution. WTVQ Purchase
• Neutral Sentiment: Short-interest report shows effectively zero reported short interest as of Mar 5 — the number appears noisy/rounded and is unlikely to be a primary driver of today’s move. Market Data
• Negative Sentiment: Weak fundamentals headline risk: Feb. 25 quarter missed EPS expectations (reported ($0.06) vs. $0.46 expected) and showed negative margins/ROE — any sustained upside depends on margin recovery and execution. Earnings Summary

Insider Activity

In other E.W. Scripps news, Director Monica Holcomb purchased 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average cost of $3.91 per share, with a total value of $29,325.00. Following the completion of the transaction, the director owned 24,005 shares of the company’s stock, valued at $93,859.55. The trade was a 45.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles L. Barmonde purchased 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average cost of $3.91 per share, for a total transaction of $156,400.00. Following the completion of the acquisition, the director directly owned 740,069 shares in the company, valued at $2,893,669.79. The trade was a 5.71% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 404,386 shares of company stock worth $1,593,423. Corporate insiders own 3.62% of the company’s stock.

Hedge Funds Weigh In On E.W. Scripps

A number of large investors have recently modified their holdings of the company. D Orazio & Associates Inc. purchased a new position in shares of E.W. Scripps during the third quarter worth about $27,000. Franklin Resources Inc. purchased a new stake in E.W. Scripps during the 3rd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. grew its position in E.W. Scripps by 67.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company’s stock worth $37,000 after acquiring an additional 5,992 shares during the last quarter. Squarepoint Ops LLC purchased a new position in E.W. Scripps in the 3rd quarter worth approximately $42,000. Finally, NewEdge Advisors LLC bought a new stake in E.W. Scripps in the third quarter valued at approximately $42,000. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Stock Up 5.4%

NASDAQ SSP traded up $0.24 during trading hours on Friday, hitting $4.65. 957,673 shares of the company traded hands, compared to its average volume of 538,312. The business’s 50-day moving average is $3.66 and its 200-day moving average is $3.36. E.W. Scripps has a twelve month low of $1.36 and a twelve month high of $4.98. The stock has a market capitalization of $412.93 million, a price-to-earnings ratio of -2.49 and a beta of 0.54. The company has a debt-to-equity ratio of 3.13, a quick ratio of 1.61 and a current ratio of 1.65.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.52). E.W. Scripps had a negative return on equity of 0.27% and a negative net margin of 4.69%.The firm had revenue of $560.26 million for the quarter, compared to the consensus estimate of $550.82 million. Sell-side analysts anticipate that E.W. Scripps will post 1.07 earnings per share for the current year.

About E.W. Scripps

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.