E.W. Scripps (NASDAQ:SSP) Upgraded at StockNews.com

StockNews.com upgraded shares of E.W. Scripps (NASDAQ:SSP) from a sell rating to a hold rating in a report published on Tuesday.

Separately, Benchmark lowered their price target on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday.

E.W. Scripps Trading Up 2.1 %

Shares of SSP opened at $2.40 on Tuesday. The business’s 50-day moving average price is $2.31 and its 200 day moving average price is $2.75. The stock has a market capitalization of $206.68 million, a P/E ratio of -0.79 and a beta of 1.66. E.W. Scripps has a 1-year low of $1.68 and a 1-year high of $9.35. The company has a current ratio of 1.34, a quick ratio of 1.50 and a debt-to-equity ratio of 2.24.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). The company had revenue of $646.30 million during the quarter, compared to analysts’ expectations of $634.01 million. E.W. Scripps had a positive return on equity of 8.27% and a negative net margin of 8.55%. During the same period in the prior year, the business posted ($0.15) EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. grew its holdings in shares of E.W. Scripps by 0.8% during the 1st quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock valued at $1,346,000 after acquiring an additional 2,800 shares in the last quarter. Russell Investments Group Ltd. grew its stake in E.W. Scripps by 19.6% in the first quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock valued at $210,000 after purchasing an additional 8,745 shares in the last quarter. Victory Capital Management Inc. grew its stake in E.W. Scripps by 5.1% in the third quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock valued at $460,000 after purchasing an additional 9,900 shares in the last quarter. Sei Investments Co. purchased a new position in E.W. Scripps in the second quarter valued at about $38,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in E.W. Scripps in the second quarter valued at about $39,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.