E. W. Scripps (SSP) Stock Price Down 3.2%
Shares of E. W. Scripps Co (NYSE:SSP) traded down 3.2% during mid-day trading on Thursday . The company traded as low as $13.66 and last traded at $13.33. 445,058 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 368,894 shares. The stock had previously closed at $13.77.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded E. W. Scripps from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine downgraded E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Guggenheim reaffirmed a “hold” rating and issued a $18.00 price objective on shares of E. W. Scripps in a research note on Friday, January 26th. 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. Finally, Noble Financial reiterated a “buy” rating on shares of E. W. Scripps in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.25.
The company has a market capitalization of $1,127.75, a price-to-earnings ratio of -91.00, a P/E/G ratio of 9.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.27 and a quick ratio of 3.27.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Thursday, March 1st will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Wednesday, February 28th. E. W. Scripps’s dividend payout ratio (DPR) is -133.33%.
Several institutional investors have recently made changes to their positions in the company. Elkfork Partners LLC purchased a new position in shares of E. W. Scripps in the 4th quarter worth approximately $101,000. MetLife Investment Advisors LLC purchased a new position in shares of E. W. Scripps in the 4th quarter worth approximately $464,000. Cove Street Capital LLC boosted its holdings in shares of E. W. Scripps by 29.5% in the 4th quarter. Cove Street Capital LLC now owns 3,136,990 shares of the company’s stock worth $49,031,000 after purchasing an additional 715,090 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of E. W. Scripps by 39.9% in the 4th quarter. Kennedy Capital Management Inc. now owns 494,315 shares of the company’s stock worth $7,726,000 after purchasing an additional 141,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of E. W. Scripps by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 474,773 shares of the company’s stock worth $7,420,000 after purchasing an additional 3,487 shares during the period. Hedge funds and other institutional investors 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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