Several other analysts also recently commented on the company. Zacks Investment Research raised E. W. Scripps from a hold rating to a strong-buy rating and set a $16.00 price objective on the stock in a research note on Tuesday, August 7th. Stephens set a $15.00 price objective on E. W. Scripps and gave the stock a hold rating in a research note on Tuesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $17.80.
Shares of E. W. Scripps stock opened at $14.51 on Thursday. The firm has a market cap of $1.02 billion, a P/E ratio of -37.21, a price-to-earnings-growth ratio of 3.19 and a beta of 2.03. E. W. Scripps has a 12 month low of $10.69 and a 12 month high of $19.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.89 and a current ratio of 2.89.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings data on Friday, August 3rd. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The business had revenue of $283.40 million for the quarter, compared to the consensus estimate of $275.68 million. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. analysts expect that E. W. Scripps will post 0.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Friday, September 14th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, September 13th. E. W. Scripps’s dividend payout ratio is -51.28%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its stake in shares of E. W. Scripps by 5.8% in the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock valued at $1,589,000 after purchasing an additional 6,476 shares during the period. Litespeed Management L.L.C. raised its stake in shares of E. W. Scripps by 3.6% in the 2nd quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock valued at $5,805,000 after purchasing an additional 15,000 shares during the period. Cove Street Capital LLC raised its stake in shares of E. W. Scripps by 8.8% in the 2nd quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock valued at $53,901,000 after purchasing an additional 326,712 shares during the period. Russell Investments Group Ltd. raised 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 valued at $5,409,000 after purchasing an additional 80,377 shares during the period. Finally, Bank of New York Mellon Corp raised 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 valued at $33,678,000 after purchasing an additional 79,568 shares during the period. 77.70% 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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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