E.W. Scripps Co. (SSP) Sees Strong Trading Volume
Shares of E.W. Scripps Co. (NYSE:SSP) saw strong trading volume on Wednesday . 859,770 shares were traded during mid-day trading, an increase of 97% from the previous session’s volume of 437,097 shares.The stock last traded at $14.98 and had previously closed at $14.93.
Several equities analysts have commented on the company. Noble Financial reiterated a “buy” rating and issued a $25.00 target price on shares of E.W. Scripps in a research report on Wednesday, June 8th. Zacks Investment Research upgraded E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Saturday, July 9th. Finally, Jefferies Group reiterated a “hold” rating on shares of E.W. Scripps in a research report on Monday, August 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. E.W. Scripps presently has an average rating of “Buy” and a consensus target price of C$22.33.
The company has a 50 day moving average of $16.55 and a 200-day moving average of $16.40. The firm’s market capitalization is $1.25 billion.
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E.W. Scripps (NYSE:SSP) last posted its earnings results on Friday, August 5th. The company reported $0.14 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The business earned $228 million during the quarter, compared to analysts’ expectations of $198.13 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that E.W. Scripps Co. will post $1.10 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in E.W. Scripps by 9.5% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the company’s stock valued at $119,000 after buying an additional 653 shares during the last quarter. Bank of Montreal Can acquired a new position in E.W. Scripps during the second quarter valued at approximately $129,000. Tower Research Capital LLC TRC boosted its position in E.W. Scripps by 11,567.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock valued at $146,000 after buying an additional 9,138 shares during the last quarter. Mason Street Advisors LLC acquired a new position in E.W. Scripps during the second quarter valued at approximately $165,000. Finally, Cubist Systematic Strategies LLC acquired a new position in E.W. Scripps during the second quarter valued at approximately $178,000. Institutional investors and hedge funds own 75.15% of the company’s stock.
E.W. Scripps Company Profile
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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