E. W. Scripps (NYSE:SSP) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $20.50.
A number of research firms have weighed in on SSP. Zacks Investment Research cut E. W. Scripps from a “buy” rating to a “hold” rating in a research report on Tuesday, February 5th. Benchmark reissued a “buy” rating and issued a $22.00 price objective on shares of E. W. Scripps in a report on Monday, November 12th. Wolfe Research started coverage on E. W. Scripps in a research report on Friday, December 7th. They issued a “market perform” rating for the company. Finally, Gabelli started coverage on shares of E. W. Scripps in a research note on Tuesday, November 27th. They issued a “buy” rating on the stock.
In other E. W. Scripps news, insider Brian G. Lawlor sold 11,000 shares of the business’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $19.00, for a total transaction of $209,000.00. Following the transaction, the insider now owns 101,571 shares in the company, valued at $1,929,849. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Charles E. Scripps bought 5,000 shares of the stock in a transaction dated Monday, December 10th. The shares were bought at an average cost of $16.68 per share, with a total value of $83,400.00. Following the completion of the acquisition, the insider now directly owns 408,306 shares of the company’s stock, valued at approximately $6,810,544.08. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 425,218 shares of company stock valued at $7,376,582 and have sold 22,520 shares valued at $440,794. 4.16% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of E. W. Scripps by 2.6% in the third quarter. Bank of New York Mellon Corp now owns 2,581,130 shares of the company’s stock worth $42,588,000 after acquiring an additional 65,986 shares during the last quarter. Litespeed Management L.L.C. boosted its holdings in shares of E. W. Scripps by 30.6% during the 4th quarter. Litespeed Management L.L.C. now owns 566,341 shares of the company’s stock valued at $8,909,000 after acquiring an additional 132,812 shares during the last quarter. Geode Capital Management LLC raised its stake in E. W. Scripps by 9.7% during the 4th quarter. Geode Capital Management LLC now owns 564,351 shares of the company’s stock worth $8,877,000 after acquiring an additional 49,819 shares during the period. 361 Capital LLC purchased a new position in shares of E. W. Scripps in the fourth quarter valued at $2,476,000. Finally, California Public Employees Retirement System raised its holdings in E. W. Scripps by 8.0% in the fourth quarter. California Public Employees Retirement System now owns 124,083 shares of the company’s stock worth $1,952,000 after purchasing an additional 9,227 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SSP traded down $0.10 during midday trading on Friday, hitting $22.40. 368,246 shares of the company’s stock traded hands, compared to its average volume of 440,581. E. W. Scripps has a 1 year low of $10.69 and a 1 year high of $23.00.
E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, March 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.17). The business had revenue of $368.00 million during the quarter, compared to the consensus estimate of $354.38 million. E. W. Scripps’s revenue was up 40.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 EPS.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Friday, March 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.20 annualized dividend and a yield of 0.89%.
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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