E. W. Scripps’ (SSP) “Buy” Rating Reaffirmed at Noble Financial

E. W. Scripps (NYSE:SSP)‘s stock had its “buy” rating restated by stock analysts at Noble Financial in a report issued on Friday.

Other research analysts have also issued reports about the stock. Stephens set a $15.00 target price on shares of E. W. Scripps and gave the company a “hold” rating in a research note on Tuesday, August 7th. Benchmark reissued a “buy” rating and set a $20.00 target price on shares of E. W. Scripps in a research note on Thursday. Finally, Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a research note on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.40.

E. W. Scripps stock opened at $17.22 on Friday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -44.15, a PEG ratio of 3.19 and a beta of 2.03. E. W. Scripps has a 52-week low of $10.69 and a 52-week high of $17.98.

E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, August 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $283.40 million during the quarter, compared to analyst estimates of $275.68 million. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. E. W. Scripps’s revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts forecast that E. W. Scripps will post 0.63 EPS for the current fiscal year.

In related news, major shareholder Anthony S. Granado purchased 2,307 shares of E. W. Scripps stock in a transaction dated Monday, October 8th. The stock was bought at an average cost of $16.31 per share, with a total value of $37,627.17. Following the purchase, the insider now owns 693,824 shares in the company, valued at approximately $11,316,269.44. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Eaton M. Scripps purchased 26,100 shares of E. W. Scripps stock in a transaction dated Friday, October 5th. The stock was bought at an average cost of $16.41 per share, with a total value of $428,301.00. Following the completion of the purchase, the insider now owns 713,809 shares in the company, valued at approximately $11,713,605.69. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 175,643 shares of company stock valued at $2,900,767. Company insiders own 4.16% of the company’s stock.

Several large investors have recently modified their holdings of SSP. California Public Employees Retirement System lifted its stake 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 during the period. Price Capital Management Inc. acquired a new stake in shares of E. W. Scripps in the 2nd quarter worth approximately $488,000. LMR Partners LLP acquired a new stake in shares of E. W. Scripps in the 2nd quarter worth approximately $412,000. Bank of New York Mellon Corp lifted its stake in shares of E. W. Scripps by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock worth $33,678,000 after acquiring an additional 79,568 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of E. W. Scripps by 24.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock worth $5,409,000 after acquiring an additional 80,377 shares during the period. 77.70% of the stock is owned by institutional investors.

About E. W. Scripps

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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