E.W. Scripps Company (The) (SSP) Lowered to “Sell” at ValuEngine

E.W. Scripps Company (The) (NYSE:SSP) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Other equities research analysts also recently issued research reports about the company. Benchmark Co. lowered their price objective on E.W. Scripps Company (The) from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Noble Financial reaffirmed a “buy” rating on shares of E.W. Scripps Company (The) in a research report on Wednesday, August 2nd. BidaskClub raised E.W. Scripps Company (The) from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $20.00 price objective on shares of E.W. Scripps Company (The) in a research report on Wednesday, August 16th. Finally, Zacks Investment Research downgraded E.W. Scripps Company (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.75.

E.W. Scripps Company (NYSE:SSP) opened at $14.27 on Tuesday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $1,189.17, a price-to-earnings ratio of 29.63 and a beta of 2.01. E.W. Scripps Company has a 1 year low of $13.91 and a 1 year high of $24.15.

E.W. Scripps Company (The) (NYSE:SSP) last released its quarterly earnings results on Friday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $216.45 million during the quarter, compared to the consensus estimate of $219.04 million. E.W. Scripps Company (The) had a return on equity of 4.37% and a net margin of 1.95%. E.W. Scripps Company (The)’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. sell-side analysts forecast that E.W. Scripps Company will post -0.1 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its position in E.W. Scripps Company (The) by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares during the period. Alps Advisors Inc. grew its position in E.W. Scripps Company (The) by 0.3% during the second quarter. Alps Advisors Inc. now owns 20,984 shares of the company’s stock valued at $374,000 after acquiring an additional 54 shares during the period. Louisiana State Employees Retirement System grew its position in E.W. Scripps Company (The) by 0.4% during the second quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock valued at $408,000 after acquiring an additional 100 shares during the period. Arizona State Retirement System grew its position in E.W. Scripps Company (The) by 0.7% during the second quarter. Arizona State Retirement System now owns 29,358 shares of the company’s stock valued at $523,000 after acquiring an additional 200 shares during the period. Finally, Texas Permanent School Fund grew its position in E.W. Scripps Company (The) by 1.4% during the second quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock valued at $733,000 after acquiring an additional 579 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

About E.W. Scripps Company (The)

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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