Shares of E. W. Scripps (NYSE:SSP) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.00.
SSP has been the topic of a number of research reports. Zacks Investment Research cut shares of Aspen Group from a “strong-buy” rating to a “hold” rating in a report on Friday. Noble Financial reissued a “buy” rating and set a $25.00 target price on shares of E. W. Scripps in a report on Wednesday, May 15th.
In related news, CFO Lisa A. Knutson sold 4,406 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $21.41, for a total value of $94,332.46. Following the completion of the transaction, the chief financial officer now owns 39,794 shares in the company, valued at approximately $851,989.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder William H. Scripps sold 80,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $16.11, for a total transaction of $1,288,800.00. The disclosure for this sale can be found here. 4.16% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB bought a new position in shares of E. W. Scripps during the 1st quarter valued at about $2,983,000. Litespeed Management L.L.C. boosted its holdings in shares of E. W. Scripps by 30.6% in the fourth quarter. Litespeed Management L.L.C. now owns 566,341 shares of the company’s stock worth $8,909,000 after buying an additional 132,812 shares during the period. Norges Bank acquired a new position in shares of E. W. Scripps in the fourth quarter worth about $1,350,000. Geode Capital Management LLC boosted its holdings in shares of E. W. Scripps by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 564,351 shares of the company’s stock worth $8,877,000 after buying an additional 49,819 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of E. W. Scripps in the first quarter worth about $723,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.
Shares of NYSE:SSP traded up $0.43 on Friday, reaching $15.76. 473,058 shares of the company’s stock were exchanged, compared to its average volume of 435,230. E. W. Scripps has a fifty-two week low of $12.44 and a fifty-two week high of $23.41. The business has a 50-day simple moving average of $15.21.
E. W. Scripps (NYSE:SSP) last issued its earnings results on Friday, May 10th. The company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.02. The business had revenue of $292.20 million for the quarter, compared to analyst estimates of $288.81 million. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Friday, June 14th were issued a $0.05 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.27%.
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.
Featured Article: What is a Tariff?
Receive News & Ratings for E. W. Scripps Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E. W. Scripps and related companies with MarketBeat.com's FREE daily email newsletter.