StockNews.com Upgrades E.W. Scripps (NASDAQ:SSP) to “Hold”

E.W. Scripps (NASDAQ:SSP) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Benchmark decreased their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday.

E.W. Scripps Stock Up 0.9 %

Shares of E.W. Scripps stock traded up $0.02 during trading on Tuesday, reaching $2.29. The company’s stock had a trading volume of 2,092,932 shares, compared to its average volume of 889,081. The company has a 50-day simple moving average of $2.30 and a two-hundred day simple moving average of $2.76. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 3.79. E.W. Scripps has a 1-year low of $1.68 and a 1-year high of $9.35. The company has a market cap of $197.21 million, a price-to-earnings ratio of -0.63 and a beta of 1.66.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. The firm had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. During the same quarter in the previous year, the firm posted ($0.15) EPS.

Institutional Trading of E.W. Scripps

Several large investors have recently bought and sold shares of the business. Cove Street Capital LLC increased its stake in E.W. Scripps by 34.2% during the first quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock worth $14,553,000 after purchasing an additional 944,328 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of E.W. Scripps by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,360,347 shares of the company’s stock valued at $13,206,000 after purchasing an additional 27,192 shares during the period. Millennium Management LLC grew 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 worth $9,425,000 after buying an additional 2,191,666 shares during the last quarter. AQR Capital Management LLC increased its position in E.W. Scripps by 1,154.7% during the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock worth $7,550,000 after buying an additional 2,212,959 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of E.W. Scripps by 1,619.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock valued at $6,918,000 after acquiring an additional 2,075,027 shares during the period. Hedge funds and other 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.