Shares of E. W. Scripps (NYSE:SSP) traded up 6.1% on Wednesday . The stock traded as high as $16.05 and last traded at $15.92. 581,252 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 418,199 shares. The stock had previously closed at $15.00.

Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Noble Financial set a $19.00 price objective on shares of E. W. Scripps and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Finally, Stephens set a $15.00 price objective on shares of E. W. Scripps and gave the company a “hold” rating in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. E. W. Scripps presently has a consensus rating of “Hold” and a consensus price target of $17.80.

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -38.54, a PEG ratio of 3.19 and a beta of 2.03. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.76.

E. W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, August 3rd. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The company had revenue of $283.40 million for the quarter, compared to the consensus estimate of $275.68 million. During the same period in the previous year, the firm earned $0.10 EPS. E. W. Scripps’s revenue was up 22.3% on a year-over-year basis. sell-side analysts expect that E. W. Scripps will post 0.63 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Friday, September 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. E. W. Scripps’s dividend payout ratio (DPR) is -51.28%.

Several hedge funds have recently added to or reduced their stakes in the business. Cove Street Capital LLC raised its position in shares of E. W. Scripps by 8.8% during the 2nd quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock worth $53,901,000 after buying an additional 326,712 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of E. W. Scripps by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock worth $33,678,000 after buying an additional 79,568 shares in the last quarter. Litespeed Management L.L.C. raised its position in shares of E. W. Scripps by 3.6% during the 2nd quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock worth $5,805,000 after buying an additional 15,000 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of E. W. Scripps by 24.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock worth $5,409,000 after buying an additional 80,377 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of E. W. Scripps by 12.1% during the 1st quarter. Eagle Asset Management Inc. now owns 350,530 shares of the company’s stock worth $4,202,000 after buying an additional 37,815 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

E. W. Scripps Company Profile (NYSE:SSP)

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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