E.W. Scripps Co. (SSP) Trading Down 3.3%
E.W. Scripps Co. (NYSE:SSP)’s share price dropped 3.3% on Friday . The company traded as low as $15.05 and last traded at $15.93, with a volume of 325,949 shares. The stock had previously closed at $16.48.
SSP has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of 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. 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. 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 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. E.W. Scripps presently has an average rating of “Buy” and an average target price of C$22.33.
The stock’s market capitalization is $1.31 billion. The stock’s 50-day moving average price is $16.84 and its 200 day moving average price is $16.70.
E.W. Scripps (NYSE:SSP) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.14. The firm had revenue of $228 million for the quarter, compared to analyst estimates of $198.13 million. During the same quarter in the previous year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities analysts forecast that E.W. Scripps Co. will post $1.21 EPS for the current year.
Several large investors recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in 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 worth $36,264,000 after buying an additional 215,625 shares during the last quarter. New York State Common Retirement Fund increased its stake in 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 worth $8,963,000 after buying an additional 26,439 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in E.W. Scripps by 5.0% in the fourth quarter. Rhumbline Advisers now owns 94,625 shares of the company’s stock worth $1,798,000 after buying an additional 4,530 shares during the last quarter.
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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