E. W. Scripps (NYSE:SSP) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.50.
Several brokerages have recently weighed in on SSP. Guggenheim restated a “neutral” rating and set a $14.00 target price (down from $22.00) on shares of E. W. Scripps in a report on Monday, August 12th. Zacks Investment Research upgraded E. W. Scripps from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wells Fargo & Co began coverage on E. W. Scripps in a report on Monday, September 23rd. They set an “outperform” rating and a $17.00 target price on the stock.
Shares of E. W. Scripps stock opened at $13.31 on Friday. The stock’s 50 day simple moving average is $12.89 and its 200-day simple moving average is $16.01. E. W. Scripps has a 1-year low of $11.36 and a 1-year high of $23.41.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Friday, September 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Thursday, September 12th.
In other news, major shareholder Corina S. Granado purchased 38,117 shares of E. W. Scripps stock in a transaction dated Wednesday, August 21st. The shares were purchased at an average price of $11.91 per share, with a total value of $453,973.47. Following the transaction, the insider now owns 448,569 shares in the company, valued at $5,342,456.79. The purchase was disclosed in a document filed with the SEC, which is available through this link. 4.16% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new stake in shares of E. W. Scripps during the 2nd quarter valued at approximately $177,000. Nisa Investment Advisors LLC raised its position in shares of E. W. Scripps by 13.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 12,600 shares of the company’s stock valued at $193,000 after buying an additional 1,500 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of E. W. Scripps during the 2nd quarter valued at approximately $274,000. Municipal Employees Retirement System of Michigan raised its position in shares of E. W. Scripps by 25.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock valued at $319,000 after buying an additional 4,220 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of E. W. Scripps during the 2nd quarter valued at approximately $472,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: Why is insider trading harmful?
Receive News & Ratings for E. W. Scripps Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E. W. Scripps and related companies with MarketBeat.com's FREE daily email newsletter.