Brokerages Set E. W. Scripps Co (SSP) PT at $19.67
Shares of E. W. Scripps Co (NYSE:SSP) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $19.67.
SSP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of E. W. Scripps from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Saturday, January 20th. Benchmark reiterated a “buy” rating and issued a $21.00 target price on shares of E. W. Scripps in a report on Friday, January 26th. ValuEngine cut shares of E. W. Scripps from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Guggenheim restated a “hold” rating and set a $18.00 price target on shares of E. W. Scripps in a report on Friday, January 26th. Finally, Noble Financial restated a “buy” rating on shares of E. W. Scripps in a report on Monday, January 22nd.
E. W. Scripps (NYSE:SSP) traded up $0.14 during midday trading on Tuesday, reaching $15.00. 106,093 shares of the company’s stock were exchanged, compared to its average volume of 343,137. E. W. Scripps has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.42. The company has a market cap of $1,222.75, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 10.78 and a beta of 1.92.
Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of E. W. Scripps by 16.0% during the third quarter. JPMorgan Chase & Co. now owns 6,742,523 shares of the company’s stock worth $128,243,000 after purchasing an additional 928,854 shares during the period. Vanguard Group Inc. grew its stake in shares of E. W. Scripps by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,097,074 shares of the company’s stock worth $90,779,000 after acquiring an additional 63,426 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of E. W. Scripps by 11.2% in the third quarter. Victory Capital Management Inc. now owns 3,222,969 shares of the company’s stock worth $61,591,000 after acquiring an additional 323,969 shares during the last quarter. Cove Street Capital LLC grew its stake in shares of E. W. Scripps by 29.5% in the fourth quarter. Cove Street Capital LLC now owns 3,136,990 shares of the company’s stock worth $49,031,000 after acquiring an additional 715,090 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of E. W. Scripps by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 2,329,962 shares of the company’s stock worth $36,416,000 after acquiring an additional 24,136 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.
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About E. W. Scripps
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’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.
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