Benchmark Has Lowered Expectations for E.W. Scripps (NASDAQ:SSP) Stock Price

E.W. Scripps (NASDAQ:SSP) had its price target decreased by investment analysts at Benchmark from $11.00 to $7.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 197.87% from the company’s previous close.

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

E.W. Scripps Stock Up 2.6 %

Shares of E.W. Scripps stock opened at $2.35 on Tuesday. The company has a debt-to-equity ratio of 3.79, a quick ratio of 1.50 and a current ratio of 1.50. E.W. Scripps has a 52-week low of $1.68 and a 52-week high of $9.35. The company’s 50 day moving average price is $2.31 and its 200-day moving average price is $2.75. The stock has a market capitalization of $202.38 million, a price-to-earnings ratio of -0.64 and a beta of 1.66.

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

Institutional Investors Weigh In On E.W. Scripps

A number of large investors have recently modified their holdings of SSP. Teton Advisors Inc. lifted its holdings in E.W. Scripps by 0.8% in the first quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock worth $1,346,000 after buying an additional 2,800 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of E.W. Scripps by 19.6% in the 1st quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock valued at $210,000 after purchasing an additional 8,745 shares during the period. Victory Capital Management Inc. boosted its position in shares of 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. purchased a new stake in E.W. Scripps in the second quarter worth $38,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in E.W. Scripps in the second quarter worth $39,000. Institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

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.