Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded E. W. Scripps from a sell rating to a hold rating in a research note on Saturday, May 26th. Stephens set a $15.00 price objective on E. W. Scripps and gave the company a hold rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $18.00.
SSP stock traded up $0.49 on Thursday, hitting $16.72. 786,600 shares of the company’s stock were exchanged, compared to its average volume of 425,544. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -42.87, a price-to-earnings-growth 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 $19.09.
E. W. Scripps (NYSE:SSP) last posted its quarterly earnings results on Friday, August 3rd. The company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The business had revenue of $283.40 million for the quarter, compared to the consensus estimate of $275.68 million. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, equities research analysts anticipate that E. W. Scripps will post 0.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 25th. Investors of record on Friday, September 14th were issued a $0.05 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.20%. E. W. Scripps’s payout ratio is -51.28%.
In other news, major shareholder Mary Peirce bought 13,050 shares of E. W. Scripps stock in a transaction on Wednesday, October 3rd. The stock was acquired at an average price of $16.51 per share, with a total value of $215,455.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Eaton M. Scripps bought 17,590 shares of E. W. Scripps stock in a transaction on Friday, September 21st. The shares were purchased at an average cost of $16.59 per share, with a total value of $291,818.10. Following the acquisition, the insider now directly owns 669,842 shares of the company’s stock, valued at $11,112,678.78. The disclosure for this purchase can be found here. Insiders purchased a total of 87,618 shares of company stock valued at $1,441,285 in the last ninety days. 4.16% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in E. W. Scripps by 3.3% in the second 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 period. Public Employees Retirement System of Ohio grew its position in E. W. Scripps by 19.8% in the second quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after acquiring an additional 17,580 shares during the period. California Public Employees Retirement System grew its position in E. W. Scripps by 5.8% in the second 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 period. Litespeed Management L.L.C. grew its position in E. W. Scripps by 3.6% in the second 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 period. Finally, Cove Street Capital LLC grew its position in E. W. Scripps by 8.8% in the second 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 period. Institutional investors and hedge funds own 77.70% 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 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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