E.W. Scripps Co. (SSP) Shares Down 7.4%
E.W. Scripps Co. (NYSE:SSP)’s share price dropped 7.4% during mid-day trading on Tuesday . The stock traded as low as $15.07 and last traded at $15.15, with a volume of 273,943 shares changing hands. The stock had previously closed at $16.36.
SSP has been the subject of several recent research reports. Zacks Investment Research cut E.W. Scripps from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Jefferies Group reiterated a “hold” rating on shares of E.W. Scripps in a research note on Friday, August 5th. Finally, Noble Financial reiterated a “buy” rating and issued a $25.00 price objective on shares of E.W. Scripps in a research note on Wednesday, June 8th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. E.W. Scripps has a consensus rating of “Buy” and an average target price of C$22.33.
The firm’s market capitalization is $1.25 billion. The firm has a 50 day moving average of $16.65 and a 200-day moving average of $16.43.
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E.W. Scripps (NYSE:SSP) last released its earnings results on Friday, August 5th. The company reported $0.14 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The firm had revenue of $228 million for the quarter, compared to the consensus estimate of $198.13 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that E.W. Scripps Co. will post $1.10 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in SSP. Mason Street Advisors LLC purchased a new position in E.W. Scripps during the second quarter worth approximately $165,000. Cove Street Capital LLC purchased a new position in E.W. Scripps during the second quarter worth approximately $10,798,000. Schwab Charles Investment Management Inc. increased its position in E.W. Scripps by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 207,050 shares of the company’s stock worth $3,280,000 after buying an additional 3,660 shares during the period. Arizona State Retirement System increased its position in E.W. Scripps by 1.1% in the second quarter. Arizona State Retirement System now owns 27,658 shares of the company’s stock worth $438,000 after buying an additional 300 shares during the period. Finally, Blackstone Group L.P. purchased a new position in E.W. Scripps during the second quarter worth approximately $8,156,000. Institutional investors own 75.15% of the company’s stock.
E.W. Scripps 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 operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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