E.W. Scripps (NASDAQ:SSP) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of E.W. Scripps (NASDAQ:SSP) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company decreased their price objective on shares of E.W. Scripps from $4.70 to $3.80 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Weiss Ratings restated a “sell (d)” rating on shares of E.W. Scripps in a research note on Wednesday, August 26th. Finally, Benchmark reduced their target price on shares of E.W. Scripps from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.90.

E.W. Scripps Trading Up 1.5%

E.W. Scripps stock opened at $3.31 on Friday. The company has a debt-to-equity ratio of 3.08, a current ratio of 1.34 and a quick ratio of 1.34. E.W. Scripps has a one year low of $2.02 and a one year high of $5.39. The stock has a market capitalization of $306.74 million, a PE ratio of -0.24 and a beta of 0.65. The business’s fifty day moving average is $3.09 and its 200 day moving average is $3.55.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Thursday, August 6th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.19. E.W. Scripps had a negative net margin of 58.02% and a negative return on equity of 4.58%. The business had revenue of $490.40 million during the quarter, compared to analyst estimates of $511.65 million.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in E.W. Scripps by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,722,317 shares of the company’s stock valued at $18,842,000 after purchasing an additional 871,159 shares during the period. Dimensional Fund Advisors LP grew its position in E.W. Scripps by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,729,155 shares of the company’s stock worth $13,873,000 after purchasing an additional 57,441 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of E.W. Scripps by 9.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,661,878 shares of the company’s stock valued at $9,902,000 after buying an additional 219,839 shares during the last quarter. Wittenberg Investment Management Inc. raised its stake in shares of E.W. Scripps by 4.2% during the 4th quarter. Wittenberg Investment Management Inc. now owns 2,310,061 shares of the company’s stock valued at $9,217,000 after buying an additional 93,112 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of E.W. Scripps by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,596,618 shares of the company’s stock valued at $6,372,000 after buying an additional 34,323 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

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.