In yesterday’s Wall Street session, The E.W. Scripps Company (NASDAQ:SSP) shares traded at $9.86, down -7.33% from the previous session.
6 analysts cover The E.W. Scripps Company (NASDAQ:SSP), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $17.00 and a low of $11.00, we find $13.00. Given the previous closing price of $10.64, this indicates a potential upside of 22.18 percent. SSP stock price is now -27.67% away from the 50-day moving average and -29.14% away from the 200-day moving average. The market capitalization of the company currently stands at $831.10M.
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The stock has received a hold rating from 3 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $13.83 as their price target over the next twelve months.
With the price target reduced from $20 to $11, Wells Fargo Downgraded its rating from Overweight to Equal Weight for The E.W. Scripps Company (NASDAQ: SSP)., while ‘The Benchmark Company’ rates the stock as ‘Buy’.
In other news, Scripps Elizabeth, 10% Owner bought 850 shares of the company’s stock on Mar 03. The stock was bought for $9,989 at an average price of $11.75. Upon completion of the transaction, the 10% Owner now directly owns 3,916 shares in the company, valued at $38611.76. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 07, President, Scripps Networks Knutson Lisa A sold 9,950 shares of the business’s stock. A total of $140,694 was realized by selling the stock at an average price of $14.14. This leaves the insider owning 49,844 shares of the company worth $0.49 million. A total of 5.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SSP stock. A new stake in The E.W. Scripps Company shares was purchased by MILLENNIUM MANAGEMENT LLC during the first quarter worth $2,417,000. ALLIANZ ASSET MANAGEMENT GMBH invested $843,000 in shares of SSP during the first quarter. In the first quarter, CORNERCAP INVESTMENT COUNSEL INC acquired a new stake in The E.W. Scripps Company valued at approximately $761,000. PAX FINANCIAL GROUP, LLC acquired a new stake in SSP for approximately $398,000. AMERICAN CENTURY COMPANIES INC purchased a new stake in SSP valued at around $261,000 in the second quarter. In total, there are 243 active investors with 79.00% ownership of the company’s stock.
On Monday morning The E.W. Scripps Company (NASDAQ: SSP) stock kicked off with the opening price of $10.49. During the past 12 months, The E.W. Scripps Company has had a low of $9.90 and a high of $21.85. As of last week, the company has a debt-to-equity ratio of 1.69, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for SSP is $13.63 and a two-hundred day moving average price translates $13.91 for the stock.
The latest earnings results from The E.W. Scripps Company (NASDAQ: SSP) was released for Sep, 2022. According to the Broadcasting Company, earnings per share came in at $0.38, missing analysts’ expectations of $0.58 by -0.2. This compares to $0.01 EPS in the same period last year. The net profit margin was 5.80% and return on equity was 8.70% for SSP. The company reported revenue of $680.94 million for the quarter, compared to $622.29 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.42 percent. For the current quarter, analysts expect SSP to generate $690.77M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/24/2020. Investors who held shares on 12/15/2020 were paid a $0.05 dividend.
The E.W. Scripps Company(SSP) Company Profile
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. The company operates through Local Media, Scripps Network, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations. This segment also runs network, syndicated, and original programming. The Scripps Network segment comprises of national television networks. The Network operates through over-the-air broadcast, cable/satellite, connected TV, and digital distribution. In addition, the company provides content and services through the internet, smartphones, and tablets. Further, the company provides Newsy, a national news network, which provides politics, entertainment, science, and technology news; and Scripps National Spelling Bee, an investigative reporting newsroom in Washington, D.C. Additionally, the company offers ION, a national broadcast television network that delivers popular crime and justice procedural programming through over-the-air broadcast and pay TV platforms. It serves audiences and businesses. The E.W. Scripps Company operates through a network of 61 television stations. The company was founded in 1878 and is headquartered in Cincinnati, Ohio.
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