Analysts Set E. W. Scripps (SSP) Target Price at $18.75

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Shares of E. W. Scripps (NYSE:SSP) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.33.

Several research analysts recently commented on the company. Zacks Investment Research cut E. W. Scripps from a “buy” rating to a “hold” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $22.00 price objective on shares of E. W. Scripps in a research note on Monday, November 12th. Noble Financial set a $20.00 price objective on E. W. Scripps and gave the company a “buy” rating in a research note on Wednesday, September 26th. Wolfe Research assumed coverage on E. W. Scripps in a research note on Friday, December 7th. They issued a “market perform” rating on the stock. Finally, Gabelli assumed coverage on E. W. Scripps in a research note on Tuesday, November 27th. They issued a “buy” rating on the stock.

In other news, major shareholder Eaton M. Scripps bought 38,322 shares of the stock in a transaction dated Friday, November 30th. The shares were bought at an average price of $17.60 per share, for a total transaction of $674,467.20. Following the completion of the purchase, the insider now owns 978,402 shares in the company, valued at $17,219,875.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Mary Peirce bought 14,858 shares of the stock in a transaction dated Wednesday, October 17th. The shares were purchased at an average price of $16.62 per share, for a total transaction of $246,939.96. Following the purchase, the insider now owns 343,727 shares of the company’s stock, valued at approximately $5,712,742.74. The disclosure for this purchase can be found here. Insiders acquired 642,075 shares of company stock worth $10,820,489 in the last 90 days. Corporate insiders own 4.16% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. bought a new position in E. W. Scripps during the 3rd quarter worth $174,000. MetLife Investment Advisors LLC increased its stake in E. W. Scripps by 50.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock worth $535,000 after acquiring an additional 10,808 shares during the period. Lenox Wealth Management Inc. increased its stake in E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock worth $1,381,000 after acquiring an additional 15,788 shares during the period. Public Employees Retirement System of Ohio increased its stake in E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after acquiring an additional 17,580 shares during the period. Finally, California Public Employees Retirement System increased its stake in E. W. Scripps by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock worth $1,589,000 after acquiring an additional 6,476 shares during the period. Institutional investors own 77.70% of the company’s stock.

Shares of NYSE SSP opened at $18.20 on Friday. E. W. Scripps has a 52 week low of $10.69 and a 52 week high of $18.44.

E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 9th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $302.70 million for the quarter, compared to analyst estimates of $292.22 million. During the same period last year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 51.0% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $0.20 annualized dividend and a yield of 1.10%.

About E. W. Scripps

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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