Benchmark Cuts E.W. Scripps (NASDAQ:SSP) Price Target to $7.00

E.W. Scripps (NASDAQ:SSP) had its price target reduced by Benchmark from $11.00 to $7.00 in a research note published on Tuesday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Separately, StockNews.com lowered E.W. Scripps from a “hold” rating to a “sell” rating in a report on Thursday, August 15th.

E.W. Scripps Price Performance

SSP opened at $2.29 on Tuesday. The company’s 50-day simple moving average is $2.30 and its two-hundred day simple moving average is $2.76. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $197.21 million, a P/E ratio of -0.63 and a beta of 1.66. E.W. Scripps has a 52-week low of $1.68 and a 52-week high of $9.35.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 11.06% and a positive return on equity of 2.94%. The company had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. During the same quarter last year, the company earned ($0.15) EPS.

Institutional Trading of E.W. Scripps

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teton Advisors Inc. boosted its stake in shares of E.W. Scripps by 0.8% during the 1st quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock worth $1,346,000 after acquiring an additional 2,800 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in E.W. Scripps by 19.6% in the 1st quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock worth $210,000 after purchasing an additional 8,745 shares during the period. Victory Capital Management Inc. lifted its position in E.W. Scripps by 5.1% during the third quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock valued at $460,000 after purchasing an additional 9,900 shares in the last quarter. Sei Investments Co. bought a new stake in E.W. Scripps during the second quarter valued at about $38,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in E.W. Scripps in the second quarter worth about $39,000. 67.81% of the stock is owned by hedge funds and other 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 television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.