Trade Report: The E.W. Scripps Co. (NYSE:SSP) Given Average Recommendation of “Buy” from Brokerages

The E.W. Scripps Co. (NYSE:SSP) Given Average Recommendation of “Buy” from Brokerages

Shares of E.W. Scripps Co. (NYSE:SSP) have received a consensus recommendation of “Buy” from the eight research firms that are presently covering the company. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$23.86.

A number of equities analysts recently issued reports on SSP shares. Noble Financial reaffirmed a “buy” rating and set a $25.00 target price on shares of E.W. Scripps in a research report on Wednesday, June 8th. Zacks Investment Research raised shares of E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Saturday, July 9th. Jefferies Group reaffirmed a “hold” rating on shares of E.W. Scripps in a research report on Friday, August 5th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of E.W. Scripps in a research report on Monday, September 26th.

Several large investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in E.W. Scripps by 9.5% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the company’s stock valued at $119,000 after buying an additional 653 shares during the last quarter. Bank of Montreal Can purchased a new stake in E.W. Scripps during the second quarter valued at $129,000. Tower Research Capital LLC TRC raised its stake in E.W. Scripps by 11,567.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock valued at $146,000 after buying an additional 9,138 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in E.W. Scripps during the second quarter valued at $165,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in E.W. Scripps during the second quarter valued at $178,000. 75.15% of the stock is currently owned by institutional investors and hedge funds.

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E.W. Scripps (NYSE:SSP) traded up 1.43% during mid-day trading on Wednesday, hitting $16.34. 148,424 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $16.48 and a 200 day moving average of $16.27. E.W. Scripps has a 52 week low of $14.52 and a 52 week high of $22.91. The stock’s market capitalization is $1.36 billion.

E.W. Scripps (NYSE:SSP) last announced its earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. E.W. Scripps had a negative net margin of 3.56% and a positive return on equity of 2.72%. The business had revenue of $228 million for the quarter, compared to analyst estimates of $198.13 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. E.W. Scripps’s revenue was up 15.0% compared to the same quarter last year. Equities analysts forecast that E.W. Scripps will post $1.10 earnings per share for the current fiscal year.

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