Noble Financial reaffirmed their buy rating on shares of E. W. Scripps (NYSE:SSP) in a research note released on Thursday, September 13th.
Several other equities analysts have also recently commented on the company. Zacks Investment Research cut E. W. Scripps from a strong-buy rating to a hold rating in a research report on Tuesday, September 11th. Stephens set a $15.00 price objective on E. W. Scripps and gave the stock a hold rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. E. W. Scripps currently has an average rating of Buy and an average target price of $18.60.
Shares of SSP traded up $0.09 during mid-day trading on Thursday, hitting $16.81. The stock had a trading volume of 448,400 shares, compared to its average volume of 425,661. The firm has a market cap of $1.02 billion, a PE ratio of -43.36, a PEG ratio of 3.19 and a beta of 2.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.89. E. W. Scripps has a 52 week low of $10.69 and a 52 week high of $18.70.
E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 3rd. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The company had revenue of $283.40 million during the quarter, compared to analysts’ expectations of $275.68 million. During the same period in the previous year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. Sell-side analysts anticipate that E. W. Scripps will post 0.63 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Friday, September 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, September 13th. E. W. Scripps’s dividend payout ratio (DPR) is presently -51.28%.
In other E. W. Scripps news, major shareholder Eaton M. Scripps purchased 22,122 shares of the stock in a transaction on Friday, September 28th. The stock was acquired at an average price of $16.45 per share, with a total value of $363,906.90. Following the transaction, the insider now directly owns 689,698 shares of the company’s stock, valued at approximately $11,345,532.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Eaton M. Scripps purchased 26,100 shares of the stock in a transaction on Friday, October 5th. The shares were acquired at an average cost of $16.41 per share, with a total value of $428,301.00. Following the transaction, the insider now directly owns 713,809 shares in the company, valued at $11,713,605.69. The disclosure for this purchase can be found here. In the last three months, insiders bought 116,025 shares of company stock valued at $1,907,213. 4.16% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in SSP. LMR Partners LLP bought a new position in shares of E. W. Scripps in the 2nd quarter worth approximately $412,000. Quantbot Technologies LP raised its position in shares of E. W. Scripps by 1,024.7% in the 1st quarter. Quantbot Technologies LP now owns 34,752 shares of the company’s stock worth $416,000 after acquiring an additional 31,662 shares in the last quarter. Price Capital Management Inc. bought a new position in shares of E. W. Scripps in the 2nd quarter worth approximately $488,000. California Public Employees Retirement System raised its position in shares of E. W. Scripps by 7.8% in the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock worth $1,345,000 after acquiring an additional 8,117 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of E. W. Scripps by 19.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after acquiring an additional 17,580 shares in the last quarter. 77.70% of the stock is 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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