Shares of E. W. Scripps (NYSE:SSP) have been assigned an average rating of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.33.
A number of analysts have recently issued reports on the company. Benchmark restated a “buy” rating and set a $20.00 price objective on shares of E. W. Scripps in a research report on Thursday, October 18th. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, November 7th. Wolfe Research assumed coverage on E. W. Scripps in a research report on Friday, December 7th. They set a “market perform” rating on the stock. Zacks Investment Research cut E. W. Scripps from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Gabelli assumed coverage on E. W. Scripps in a research report on Tuesday, November 27th. They set a “buy” rating on the stock.
Shares of NYSE SSP opened at $18.20 on Friday. E. W. Scripps has a 12 month low of $10.69 and a 12 month high of $18.44.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 9th. The company reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business had revenue of $302.70 million during the quarter, compared to the consensus estimate of $292.22 million. The business’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, December 13th.
In other news, major shareholder Charles E. Scripps bought 5,000 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was bought at an average price of $16.08 per share, for a total transaction of $80,400.00. Following the completion of the transaction, the insider now directly owns 741,367 shares in the company, valued at approximately $11,921,181.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles L. Barmonde bought 2,506 shares of the company’s stock in a transaction dated Monday, December 24th. The shares were purchased at an average price of $15.13 per share, with a total value of $37,915.78. Following the transaction, the director now owns 22,252 shares of the company’s stock, valued at $336,672.76. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 642,075 shares of company stock worth $10,820,489. 4.16% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. Russell Investments Group Ltd. increased its holdings in E. W. Scripps by 24.8% in the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock valued at $5,409,000 after purchasing an additional 80,377 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 valued at $33,678,000 after purchasing an additional 79,568 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings 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 valued at $1,422,000 after purchasing an additional 17,580 shares during the last quarter. Lenox Wealth Management Inc. increased its holdings in E. W. Scripps by 23.3% in the third quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock valued at $1,381,000 after purchasing an additional 15,788 shares during the last quarter. Finally, Litespeed Management L.L.C. increased its holdings 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 valued at $5,805,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.
About E. W. Scripps
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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