StockNews.com Upgrades E.W. Scripps (NASDAQ:SSP) to “Hold”

E.W. Scripps (NASDAQ:SSP) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Separately, Wells Fargo & Company decreased their price objective on shares of E.W. Scripps from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th.

E.W. Scripps Stock Performance

NASDAQ:SSP opened at $3.61 on Friday. The company’s 50-day moving average is $3.81 and its two-hundred day moving average is $5.92. E.W. Scripps has a 1-year low of $2.93 and a 1-year high of $11.02. The company has a debt-to-equity ratio of 3.91, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market capitalization of $306.20 million, a price-to-earnings ratio of -0.31 and a beta of 1.90.

E.W. Scripps (NASDAQ:SSP) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The business had revenue of $615.77 million during the quarter, compared to analyst estimates of $593.00 million. E.W. Scripps had a negative net margin of 39.87% and a positive return on equity of 3.02%. Analysts forecast that E.W. Scripps will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SSP. Quadrant Capital Group LLC lifted its position in shares of E.W. Scripps by 1,394.8% during the 4th quarter. Quadrant Capital Group LLC now owns 4,350 shares of the company’s stock worth $35,000 after purchasing an additional 4,059 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in E.W. Scripps by 93.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,210 shares of the company’s stock valued at $42,000 after purchasing an additional 2,517 shares in the last quarter. SageView Advisory Group LLC purchased a new position in E.W. Scripps in the fourth quarter valued at approximately $82,000. Sherbrooke Park Advisers LLC acquired a new stake in E.W. Scripps during the third quarter worth approximately $55,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of E.W. Scripps during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 67.81% 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 television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.