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 research report report published on Monday morning.

Separately, Benchmark reduced their price target on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th.

E.W. Scripps Stock Performance

Shares of SSP opened at $1.88 on Monday. E.W. Scripps has a 12-month low of $1.68 and a 12-month high of $9.35. The business has a 50-day simple moving average of $2.34 and a two-hundred day simple moving average of $2.70. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 3.41.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The company had revenue of $646.30 million during the quarter, compared to the consensus estimate of $634.01 million. During the same quarter last year, the firm posted ($0.15) EPS. As a group, analysts predict that E.W. Scripps will post 1.07 EPS for the current year.

Institutional Investors Weigh In On E.W. Scripps

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. bought a new position in E.W. Scripps in the second quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC bought a new position in E.W. Scripps in the second quarter worth approximately $39,000. Diversified Trust Co bought a new position in E.W. Scripps in the third quarter worth approximately $42,000. CWM LLC boosted its holdings in E.W. Scripps by 4,620.6% in the second quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in E.W. Scripps in the first quarter worth approximately $50,000. Institutional investors 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.