E. W. Scripps’ (SSP) “Buy” Rating Reiterated at Noble Financial

Noble Financial reissued their buy rating on shares of E. W. Scripps (NYSE:SSP) in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has a $25.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of E. W. Scripps from a hold rating to a buy rating and set a $21.00 price target on the stock in a research note on Thursday, January 17th. Benchmark reiterated a buy rating and issued a $26.00 price target (up previously from $22.00) on shares of E. W. Scripps in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $21.75.

Shares of SSP opened at $16.92 on Wednesday. E. W. Scripps has a 52 week low of $12.16 and a 52 week high of $23.41.

E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $292.20 million for the quarter, compared to analyst estimates of $288.81 million. During the same quarter in the prior year, the business posted ($0.07) EPS. The business’s revenue was up 14.9% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Friday, June 14th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.18%.

In related news, CFO Lisa A. Knutson sold 4,406 shares of the company’s 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 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 document filed with the SEC, which can be accessed through this link. Also, major shareholder Mary Peirce bought 9,396 shares of the firm’s stock in a transaction on Wednesday, February 20th. The shares were acquired at an average price of $19.59 per share, for a total transaction of $184,067.64. Following the transaction, the insider now owns 46,175 shares in the company, valued at $904,568.25. The disclosure for this purchase can be found here. In the last quarter, insiders sold 16,806 shares of company stock worth $345,847. 4.16% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of E. W. Scripps during the 1st quarter worth approximately $723,000. Geode Capital Management LLC grew its position in shares of E. W. Scripps by 10.6% during the 1st quarter. Geode Capital Management LLC now owns 624,210 shares of the company’s stock worth $13,108,000 after purchasing an additional 59,859 shares in the last quarter. Mason Street Advisors LLC grew its position in shares of E. W. Scripps by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 18,100 shares of the company’s stock worth $380,000 after purchasing an additional 595 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of E. W. Scripps during the 1st quarter worth approximately $262,000. Finally, BNP Paribas Arbitrage SA grew its position in shares of E. W. Scripps by 171.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,557 shares of the company’s stock worth $222,000 after purchasing an additional 6,672 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

E. W. Scripps 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. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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Analyst Recommendations for E. W. Scripps (NYSE:SSP)

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