E.W. Scripps (NASDAQ:SSP – Get Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.
SSP has been the topic of several other research reports. Benchmark reaffirmed a “buy” rating and issued a $17.00 price objective on shares of E.W. Scripps in a research report on Monday, August 7th. Guggenheim upped their price objective on E.W. Scripps from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday.
View Our Latest Stock Analysis on SSP
E.W. Scripps Price Performance
E.W. Scripps (NASDAQ:SSP – Get Free Report) last announced its earnings results on Friday, August 4th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $582.84 million during the quarter, compared to analysts’ expectations of $575.83 million. E.W. Scripps had a positive return on equity of 8.91% and a negative net margin of 23.16%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities analysts expect that E.W. Scripps will post 0.14 EPS for the current year.
Institutional Investors Weigh In On E.W. Scripps
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund raised its stake in E.W. Scripps by 4.5% in the first quarter. New York State Common Retirement Fund now owns 782,936 shares of the company’s stock valued at $7,367,000 after buying an additional 33,909 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of E.W. Scripps by 4.4% in the fourth quarter. Victory Capital Management Inc. now owns 7,247,238 shares of the company’s stock valued at $95,626,000 after purchasing an additional 306,962 shares during the period. CM Wealth Advisors LLC acquired a new position in shares of E.W. Scripps in the first quarter valued at about $103,000. Denali Advisors LLC increased its holdings in shares of E.W. Scripps by 140.3% in the first quarter. Denali Advisors LLC now owns 43,500 shares of the company’s stock valued at $409,000 after purchasing an additional 25,400 shares during the period. Finally, PAX Financial Group LLC acquired a new position in shares of E.W. Scripps in the fourth quarter valued at about $533,000. 80.31% of the stock is currently owned by hedge funds and other institutional investors.
E.W. Scripps Company Profile
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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