StockNews.com Upgrades E.W. Scripps (NASDAQ:SSP) to Hold

E.W. Scripps (NASDAQ:SSP - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Separately, Benchmark decreased their price target on E.W. Scripps from $11.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, November 5th.

E.W. Scripps Stock Performance

Shares of SSP stock traded down $0.06 during trading hours on Monday, reaching $2.28. 805,690 shares of the stock were exchanged, compared to its average volume of 893,548. The business's fifty day moving average is $2.33 and its two-hundred day moving average is $2.73. The company has a quick ratio of 1.50, a current ratio of 1.34 and a debt-to-equity ratio of 3.41. E.W. Scripps has a 12-month low of $1.68 and a 12-month high of $9.35.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing the consensus estimate 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 negative net margin of 8.55% and a positive return on equity of 9.40%. During the same quarter in the prior year, the company earned ($0.15) earnings per share. On average, sell-side analysts anticipate that E.W. Scripps will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On E.W. Scripps

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in E.W. Scripps in the second quarter valued at $38,000. Vanguard Personalized Indexing Management LLC acquired a new stake in E.W. Scripps in the second quarter valued at $39,000. Diversified Trust Co purchased a new position in shares of E.W. Scripps in the third quarter valued at $42,000. CWM LLC increased its position in shares of E.W. Scripps by 4,620.6% in the second quarter. CWM LLC now owns 14,209 shares of the company's stock valued at $45,000 after buying an additional 13,908 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of E.W. Scripps in the first quarter valued at $50,000. Institutional investors and hedge funds own 67.81% of the company's stock.

E.W. Scripps Company Profile

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.