E.W. Scripps (NASDAQ:SSP) Rating Increased to Hold 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 sent to investors on Tuesday morning.

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 research note on Tuesday.

E.W. Scripps Stock Performance

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

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The company had revenue of $646.30 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted ($0.15) EPS.

Institutional Trading of E.W. Scripps

Several hedge funds have recently added to or reduced their stakes in SSP. AQR Capital Management LLC boosted its stake in E.W. Scripps by 1,154.7% during the 2nd quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after purchasing an additional 2,212,959 shares during the period. Millennium Management LLC boosted its stake in E.W. Scripps by 270.6% during the 2nd quarter. Millennium Management LLC now owns 3,001,601 shares of the company’s stock valued at $9,425,000 after purchasing an additional 2,191,666 shares during the period. Assenagon Asset Management S.A. boosted its stake in E.W. Scripps by 1,619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after purchasing an additional 2,075,027 shares during the period. Cove Street Capital LLC boosted its stake in E.W. Scripps by 34.2% during the 1st quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock valued at $14,553,000 after purchasing an additional 944,328 shares during the period. Finally, Marshall Wace LLP bought a new stake in E.W. Scripps during the 2nd quarter valued at approximately $1,833,000. Institutional investors 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.