E.W. Scripps Co. (SSP) Shares Down 3.3%
Shares of E.W. Scripps Co. (NYSE:SSP) fell 3.3% during mid-day trading on Friday . The stock traded as low as $15.05 and last traded at $15.93, with a volume of 325,949 shares traded. The stock had previously closed at $16.48.
Several brokerages have issued reports on SSP. Noble Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of E.W. Scripps in a research note on Wednesday, June 8th. Zacks Investment Research raised E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Saturday, July 9th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $18.00 target price on shares of E.W. Scripps in a research note on Wednesday, May 11th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of C$22.33.
The firm’s 50 day moving average is $16.84 and its 200 day moving average is $16.70. The company’s market capitalization is $1.31 billion.
E.W. Scripps (NYSE:SSP) last issued its earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The business had revenue of $228 million for the quarter, compared to the consensus estimate of $198.13 million. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the business posted ($0.15) EPS. Analysts forecast that E.W. Scripps Co. will post $1.21 EPS for the current fiscal year.
Other hedge funds have modified their holdings of the company. Rhumbline Advisers increased its stake in shares of E.W. Scripps by 5.0% in the fourth quarter. Rhumbline Advisers now owns 94,625 shares of the company’s stock valued at $1,798,000 after buying an additional 4,530 shares during the period. New York State Common Retirement Fund increased its stake in shares of E.W. Scripps by 5.9% in the fourth quarter. New York State Common Retirement Fund now owns 471,763 shares of the company’s stock valued at $8,963,000 after buying an additional 26,439 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of E.W. Scripps by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 1,908,625 shares of the company’s stock valued at $36,264,000 after buying an additional 215,625 shares during the period.
The E.W. Scripps Company serves audiences and businesses through a portfolio of television, radio and digital media brands. The Company is a television (TV) station owners, with approximately 33 television stations in 24 markets and a reach of nearly one in five United States households. It also owns approximately 34 radio stations in eight markets.
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