E.W. Scripps Co. (SSP) Sees Strong Trading Volume
Shares of E.W. Scripps Co. (NYSE:SSP) saw strong trading volume on Monday . 789,084 shares were traded during trading, an increase of 105% from the previous session’s volume of 384,731 shares.The stock last traded at $15.90 and had previously closed at $15.58.
Several equities research analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating and set a $18.00 price objective on shares of E.W. Scripps in a research report on Wednesday, May 11th. Zacks Investment Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 10th. Finally, Noble Financial restated a “positive” rating and set a $25.00 target price on shares of E.W. Scripps in a report on Wednesday, April 13th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of C$22.33.
The stock’s market capitalization is $1.33 billion. The company’s 50 day moving average price is $16.80 and its 200 day moving average price is $16.67.
E.W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm earned $228 million during the quarter, compared to analyst estimates of $198.13 million. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. On average, equities analysts expect that E.W. Scripps Co. will post $1.19 EPS for the current year.
Several hedge funds and institutional investors have recently modified their holdings of the company. Rhumbline Advisers increased its position 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 worth $1,798,000 after buying an additional 4,530 shares during the period. New York State Common Retirement Fund increased its position 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 worth $8,963,000 after buying an additional 26,439 shares during the period. Finally, Victory Capital Management Inc. increased its position 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 worth $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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