The stock of E. W. Scripps Co (NYSE:SSP) hit a new 52-week low and has $13.26 target or 7.00% below today’s $14.26 share price. The 8 months bearish chart indicates high risk for the $1.15B company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $13.26 price target is reached, the company will be worth $80.50 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 327,083 shares traded hands. E. W. Scripps Co (NYSE:SSP) has declined 16.36% since March 14, 2016 and is downtrending. It has underperformed by 21.97% the S&P500.
Analysts await E. W. Scripps Co (NYSE:SSP) to report earnings on November, 4. They expect $0.31 earnings per share, up 1,450.00% or $0.29 from last year’s $0.02 per share. SSP’s profit will be $25.00M for 11.50 P/E if the $0.31 EPS becomes a reality. After $0.14 actual earnings per share reported by E. W. Scripps Co for the previous quarter, Wall Street now forecasts 121.43% EPS growth.
E. W. Scripps Co (NYSE:SSP) Ratings Coverage
Out of 4 analysts covering Scripps (NYSE:SSP), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Scripps has been the topic of 6 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, August 10 by Benchmark. The stock has “Equal-Weight” rating given by Stephens on Wednesday, November 18. The company was upgraded on Wednesday, August 12 by Zacks. Evercore upgraded E. W. Scripps Co (NYSE:SSP) rating on Wednesday, October 7. Evercore has “Buy” rating and $24 price target.
According to Zacks Investment Research, “E. W. Scripps Company is a diversified media company operating in three reportable segments: newspapers, broadcast television and category television. The company operates daily newspapers, broadcast TV stations and cable television networks. The company’s cable television network brands include Home & Garden Television, Food Network, Do It Yourself, and Fine Living. The company also operates Scripps Howard News Service, United Media, the worldwide licensing and syndication home of PEANUTS and DILBERT, and Web sites, including hgtv.com, foodtv.com, and diynet.com.”
Insitutional Activity: The institutional sentiment decreased to 1.23 in 2016 Q2. Its down 0.44, from 1.67 in 2016Q1. The ratio dived, as 18 funds sold all E. W. Scripps Co shares owned while 39 reduced positions. 13 funds bought stakes while 57 increased positions. They now own 60.96 million shares or 0.96% less from 61.54 million shares in 2016Q1.
Verition Fund, a Connecticut-based fund reported 20,867 shares. Steinberg Asset Management Ltd Company holds 150,305 shares or 0.62% of its portfolio. The California-based Parallax Volatility Advisers L P has invested 0% in E. W. Scripps Co (NYSE:SSP). Moreover, Cornerstone has 0% invested in E. W. Scripps Co (NYSE:SSP) for 200 shares. Pub Employees Retirement Association Of Colorado last reported 0.05% of its portfolio in the stock. Principal reported 375,392 shares or 0.01% of all its holdings. Tiaa Cref Inv Limited Liability holds 184,953 shares or 0% of its portfolio. Dimensional Fund Advsrs Lp holds 5.50 million shares or 0.05% of its portfolio. Schwab Charles Investment Management accumulated 0% or 207,050 shares. Nordea Invest Ab reported 720,312 shares or 0.03% of all its holdings. Keybank Natl Association Oh holds 0.01% or 83,096 shares in its portfolio. Ameriprise Fin holds 0% or 258,608 shares in its portfolio. Comerica Fincl Bank holds 0.02% of its portfolio in E. W. Scripps Co (NYSE:SSP) for 116,912 shares. Blackrock Advisors Limited Liability holds 0% of its portfolio in E. W. Scripps Co (NYSE:SSP) for 28,036 shares. Wfg Advsr L P last reported 768 shares in the company.
Another recent and important E. W. Scripps Co (NYSE:SSP) news was published by Wsj.com which published an article titled: “EW Scripps Buys Podcast Company Stitcher” on June 06, 2016.
SSP Company Profile
The E. W. Scripps Company, incorporated on December 1, 1987, is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Firm operates through divisions, including television, radio, digital, and syndication and other. The Firm serves audiences and businesses through a portfolio of television, radio and digital media brands. It also has a collection of local and national digital journalism and information businesses. It also produces television programming, investigative reporting newsroom in Washington, D.C. and serves educational program, the Scripps National Spelling Bee.
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