Notable Price Action: What Next for E. W. Scripps Co Stock After Achieving Yearly Low?

Notable Price Action: What Next for E. W. Scripps Co Stock After Achieving Yearly Low?

The stock of E. W. Scripps Co (NYSE:SSP) hit a new 52-week low and has $11.80 target or 9.00% below today’s $12.97 share price. The 8 months bearish chart indicates high risk for the $1.07 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $11.80 price target is reached, the company will be worth $96.30 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. The stock decreased 1.29% or $0.17 during the last trading session, hitting $12.97. About 940,526 shares traded hands or 58.47% up from the average. E. W. Scripps Co (NYSE:SSP) has declined 15.72% since March 31, 2016 and is downtrending. It has underperformed by 18.24% 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 $25.57 million for 10.46 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. On Monday, August 10 the stock rating was maintained by Benchmark with “Buy”. The firm earned “Buy” rating on Wednesday, October 7 by Evercore. The rating was initiated by Stephens on Wednesday, November 18 with “Equal-Weight”. As per Wednesday, August 12, the company rating was upgraded by Zacks.

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 Q2 2016. Its down 0.44, from 1.67 in 2016Q1. The ratio fall, 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.
Us National Bank De has 0.01% invested in the company for 139,913 shares. The Ontario – Canada-based Royal Fincl Bank Of Canada has invested 0% in E. W. Scripps Co (NYSE:SSP). Moreover, Rhumbline Advisers has 0% invested in E. W. Scripps Co (NYSE:SSP) for 103,526 shares. Blackrock Fund Advsr has 0.01% invested in the company for 3.60M shares. Laurion Cap Mgmt Lp holds 0% or 16,090 shares in its portfolio. Kcg owns 11,796 shares or 0% of their US portfolio. Glenmede Trust Na reported 75 shares or 0% of all its holdings. California State Teachers Retirement Sys last reported 124,873 shares in the company. Horizon Kinetics Ltd Limited Liability Company accumulated 142,106 shares or 0.06% of the stock. Teachers Retirement System Of The State Of Kentucky last reported 0% of its portfolio in the stock. Phocas Finance Corporation last reported 370,707 shares in the company. Johnson Financial Grp Inc has invested 0% of its portfolio in E. W. Scripps Co (NYSE:SSP). Bislett Management Limited Company owns 390,000 shares or 4.27% of their US portfolio. Wells Fargo And Mn last reported 135,282 shares in the company. Silvercrest Asset Mngmt Ltd Liability has 0.31% invested in the company for 1.53 million shares.

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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