E. W. Scripps (NYSE:SSP) Given Neutral Rating at Guggenheim

Guggenheim reaffirmed their neutral rating on shares of E. W. Scripps (NYSE:SSP) in a research note published on Monday, The Fly reports. They currently have a $14.00 target price on the stock, down from their previous target price of $22.00.

Other analysts also recently issued research reports about the stock. Noble Financial reissued a buy rating and set a $25.00 target price on shares of E. W. Scripps in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of E. W. Scripps from a sell rating to a hold rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. E. W. Scripps currently has an average rating of Buy and a consensus target price of $21.50.

NYSE SSP opened at $11.52 on Monday. The company has a 50 day moving average price of $14.75 and a 200 day moving average price of $18.36. E. W. Scripps has a 52 week low of $11.51 and a 52 week high of $23.41.

E. W. Scripps (NYSE:SSP) last released its earnings results on Friday, August 9th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The company had revenue of $337.50 million for the quarter, compared to analysts’ expectations of $337.35 million. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Friday, September 13th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.74%.

In other E. W. Scripps news, major shareholder William H. Scripps sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $16.11, for a total transaction of $1,288,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.16% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Mason Street Advisors LLC grew its position in 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 during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of E. W. Scripps by 3.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 36,308 shares of the company’s stock valued at $555,000 after acquiring an additional 1,296 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of E. W. Scripps by 13.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the company’s stock valued at $193,000 after acquiring an additional 1,500 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of E. W. Scripps by 25.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock valued at $319,000 after acquiring an additional 4,220 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of E. W. Scripps by 171.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,557 shares of the company’s stock valued at $222,000 after acquiring an additional 6,672 shares during the last quarter. 77.70% of the stock is currently owned by institutional investors.

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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