Noble Financial Reiterates Buy Rating for E.W. Scripps Company (The) (SSP)

E.W. Scripps Company (The) (NYSE:SSP)‘s stock had its “buy” rating reiterated by analysts at Noble Financial in a note issued to investors on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Benchmark Co. reiterated a “buy” rating and set a $26.00 price target on shares of E.W. Scripps Company (The) in a report on Thursday, July 13th. Zacks Investment Research upgraded shares of E.W. Scripps Company (The) from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, July 12th. BidaskClub upgraded shares of E.W. Scripps Company (The) from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $20.00 price target on shares of E.W. Scripps Company (The) in a report on Wednesday, August 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.00.

E.W. Scripps Company (SSP) opened at 19.18 on Wednesday. The company has a 50-day moving average of $18.16 and a 200 day moving average of $19.22. E.W. Scripps Company has a 12 month low of $12.16 and a 12 month high of $24.15. The company has a market cap of $1.58 billion, a PE ratio of 28.00 and a beta of 2.02.

E.W. Scripps Company (The) (NYSE:SSP) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.02. The business had revenue of $231.82 million for the quarter, compared to analysts’ expectations of $232.04 million. E.W. Scripps Company (The) had a net margin of 6.05% and a return on equity of 5.90%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. On average, equities analysts forecast that E.W. Scripps Company will post $0.14 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of SSP. Cove Street Capital LLC grew its holdings in shares of E.W. Scripps Company (The) by 76.6% during the second quarter. Cove Street Capital LLC now owns 1,367,615 shares of the company’s stock valued at $24,357,000 after buying an additional 593,330 shares during the last quarter. Northern Trust Corp grew its holdings in shares of E.W. Scripps Company (The) by 27.0% during the second quarter. Northern Trust Corp now owns 2,111,385 shares of the company’s stock valued at $37,604,000 after buying an additional 449,165 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of E.W. Scripps Company (The) by 4.9% during the second quarter. Gamco Investors INC. ET AL now owns 8,179,151 shares of the company’s stock valued at $145,671,000 after buying an additional 385,574 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of E.W. Scripps Company (The) by 5.4% during the second quarter. JPMorgan Chase & Co. now owns 5,813,669 shares of the company’s stock valued at $103,543,000 after buying an additional 296,437 shares during the last quarter. Finally, Penn Capital Management Co. Inc. grew its holdings in shares of E.W. Scripps Company (The) by 37.4% during the second quarter. Penn Capital Management Co. Inc. now owns 840,627 shares of the company’s stock valued at $15,081,000 after buying an additional 228,897 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

About E.W. Scripps Company (The)

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’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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