E.W. Scripps Co. (SSP) Sees Unusually-High Trading Volume
E.W. Scripps Co. (NYSE:SSP) saw unusually-strong trading volume on Monday . Approximately 789,084 shares changed hands 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.
A number of analysts recently commented on the company. Zacks Investment Research lowered E.W. Scripps from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Noble Financial reaffirmed a “positive” rating and issued a $25.00 price target on shares of E.W. Scripps in a research note on Wednesday, April 13th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of E.W. Scripps in a research note on Friday. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of C$22.33.
The company’s market capitalization is $1.33 billion. The firm’s 50-day moving average is $16.80 and its 200 day moving average is $16.67.
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, meeting the Thomson Reuters’ consensus estimate of $0.14. The company 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 firm posted ($0.15) EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that E.W. Scripps Co. will post $1.19 EPS for the current fiscal year.
Several institutional investors recently added to or reduced their stakes in SSP. Victory Capital Management Inc. increased its position 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 valued at $36,264,000 after buying an additional 215,625 shares in the last quarter. New York State Common Retirement Fund increased its position 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 valued at $8,963,000 after buying an additional 26,439 shares in the last quarter. Finally, Rhumbline Advisers increased its position in 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 in 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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