Trade Report: Today, E.W. Scripps’ (SSP) Hold Rating Reaffirm at Jefferies Group

Today, E.W. Scripps’ (SSP) Hold Rating Reaffirm at Jefferies Group

E.W. Scripps Co. (NYSE:SSP)‘s stock had its “hold” rating reiterated by stock analysts at Jefferies Group in a research report issued to clients and investors on Monday. They presently have a $14.00 price target on the stock. Jefferies Group’s target price points to a potential downside of 17.50% from the stock’s current price.

A number of other research analysts have also commented on SSP. Benchmark Co. lowered their price target on E.W. Scripps from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, November 7th. Zacks Investment Research raised E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, July 30th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $20.06.

E.W. Scripps (NYSE:SSP) traded up 1.31% on Monday, reaching $16.97. 288,820 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $14.72 and its 200 day moving average is $16.08. The stock has a market capitalization of $1.41 billion, a P/E ratio of 202.02 and a beta of 1.69. E.W. Scripps has a 1-year low of $12.16 and a 1-year high of $22.21.

E.W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 4th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.14. The business had revenue of $233 million for the quarter, compared to analyst estimates of $256.75 million. E.W. Scripps had a net margin of 0.84% and a return on equity of 4.00%. E.W. Scripps’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the business posted ($0.29) earnings per share. Analysts expect that E.W. Scripps will post $0.75 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Municipal Employees Retirement System of Michigan raised its position in E.W. Scripps by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,840 shares of the company’s stock worth $188,000 after buying an additional 190 shares during the period. Nisa Investment Advisors LLC raised its position in E.W. Scripps by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the company’s stock worth $179,000 after buying an additional 200 shares during the period. Profund Advisors LLC raised its position in E.W. Scripps by 2.1% in the second quarter. Profund Advisors LLC now owns 12,618 shares of the company’s stock worth $200,000 after buying an additional 262 shares during the period. Arizona State Retirement System raised its position in E.W. Scripps by 1.1% in the second quarter. Arizona State Retirement System now owns 27,658 shares of the company’s stock worth $438,000 after buying an additional 300 shares during the period. Finally, KCG Holdings Inc. raised its position in E.W. Scripps by 3.0% in the third quarter. KCG Holdings Inc. now owns 12,146 shares of the company’s stock worth $193,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 76.55% of the company’s stock.

E.W. Scripps Company Profile

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