E.W. Scripps (NASDAQ:SSP) Announces Earnings Results

by · The Markets Daily

E.W. Scripps (NASDAQ:SSP – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.52), Zacks reports. E.W. Scripps had a net margin of 0.99% and a return on equity of 9.82%.

E.W. Scripps Trading Up 4.3%

Shares of SSP stock traded up $0.15 during trading hours on Wednesday, reaching $3.62. 499,572 shares of the stock traded hands, compared to its average volume of 434,666. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 3.13. The firm has a market capitalization of $321.46 million, a PE ratio of -8.23 and a beta of 0.62. E.W. Scripps has a 1-year low of $1.36 and a 1-year high of $4.98. The business has a fifty day moving average price of $3.71 and a 200 day moving average price of $3.32.

Institutional Trading of E.W. Scripps

Several large investors have recently added to or reduced their stakes in SSP. Franklin Resources Inc. acquired a new stake in shares of E.W. Scripps in the third quarter worth $30,000. Northwestern Mutual Wealth Management Co. raised its position in E.W. Scripps by 67.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company’s stock valued at $37,000 after buying an additional 5,992 shares during the period. Oxford Asset Management LLP purchased a new stake in E.W. Scripps in the 2nd quarter worth about $46,000. Bank of Montreal Can acquired a new stake in E.W. Scripps during the 4th quarter worth about $64,000. Finally, Squarepoint Ops LLC acquired a new stake in E.W. Scripps during the 3rd quarter worth about $42,000. 67.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on SSP shares. Weiss Ratings reissued a “sell (d+)” rating on shares of E.W. Scripps in a research note on Monday, December 22nd. Wells Fargo & Company upped their price target on E.W. Scripps from $3.00 to $3.90 and gave the company an “equal weight” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.95.

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E.W. Scripps Company Profile

(Get Free Report)

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

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