Other equities research analysts have also issued research reports about the stock. Benchmark reaffirmed a buy rating and issued a $20.00 price objective on shares of E. W. Scripps in a research note on Thursday, October 18th. Stephens set a $15.00 price objective on shares of E. W. Scripps and gave the company a hold rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research lowered shares of E. W. Scripps from a strong-buy rating to a hold rating in a research note on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. E. W. Scripps has a consensus rating of Buy and an average target price of $18.40.
Shares of NYSE:SSP opened at $17.59 on Friday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -45.10, a P/E/G 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 $18.20. 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 (NYSE:SSP) last issued 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. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The company had revenue of $283.40 million during the quarter, compared to analyst estimates of $275.68 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities analysts forecast that E. W. Scripps will post 0.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Friday, September 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Thursday, September 13th. E. W. Scripps’s payout ratio is presently -51.28%.
In other E. W. Scripps news, major shareholder Eaton M. Scripps acquired 26,100 shares of E. W. Scripps stock in a transaction that occurred on Friday, October 5th. The stock was acquired at an average price of $16.41 per share, with a total value of $428,301.00. Following the purchase, the insider now owns 713,809 shares in the company, valued at $11,713,605.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Anthony S. Granado acquired 2,307 shares of E. W. Scripps stock in a transaction that occurred on Monday, October 8th. The stock was acquired 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 disclosure for this purchase can be found here. In the last ninety days, insiders purchased 175,643 shares of company stock valued at $2,900,767. 4.16% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Cove Street Capital LLC lifted its position in E. W. Scripps by 8.8% during the 2nd quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock worth $53,901,000 after acquiring an additional 326,712 shares during the last quarter. Bank of New York Mellon Corp lifted its position in E. W. Scripps by 3.3% during 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 last quarter. Litespeed Management L.L.C. lifted its position in E. W. Scripps by 3.6% during the 2nd quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock worth $5,805,000 after acquiring an additional 15,000 shares during the last quarter. Russell Investments Group Ltd. lifted its position in E. W. Scripps by 24.8% during 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 last quarter. Finally, California Public Employees Retirement System lifted its position in E. W. Scripps by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock worth $1,589,000 after acquiring an additional 6,476 shares during the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.
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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