The E.W. Scripps Company (NASDAQ:SSP) closed Wednesday at $14.50 per share, up from $14.43 a day earlier. While The E.W. Scripps Company has overperformed by 0.49%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SSP fell by -30.72%, with highs and lows ranging from $23.61 to $9.90, whereas the simple moving average fell by -9.48% in the last 200 days.
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On November 09, 2022, Wells Fargo Downgraded The E.W. Scripps Company (NASDAQ: SSP) to Equal Weight. The Benchmark Company also reiterated SSP shares as ‘Buy’, quoting a target price of $24 on the company’s shares in a report dated November 11, 2019. The Benchmark Company Reiterated the rating as Buy on March 04, 2019, but set its price target from $22 to $26. Gabelli & Co initiated its ‘Buy’ rating for SSP, as published in its report on November 27, 2018. The Benchmark Company’s report from November 06, 2017 suggests a price prediction of $20 for SSP shares, giving the stock a ‘Buy’ rating. Guggenheim also rated the stock as ‘Neutral’.
Analysis of The E.W. Scripps Company (SSP)
Further, the quarter-over-quarter increase in sales is 10.20%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of The E.W. Scripps Company’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of 5.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and SSP is recording an average volume of 241.14K. On a monthly basis, the volatility of the stock is set at 7.93%, whereas on a weekly basis, it is put at 5.72%, with a loss of -0.14% over the past seven days. Furthermore, long-term investors anticipate a median target price of $15.00, showing growth from the present price of $14.50, which can serve as yet another indication of whether SSP is worth investing in or should be passed over.
How Do You Analyze The E.W. Scripps Company Shares?
The E.W. Scripps Company (SSP) is based in the USA and is one of the most prominent companies operating in the Broadcasting market. When comparing The E.W. Scripps Company shares with other companies under Communication Services, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 11.47, there is a growth in quarterly earnings of -24.40%.
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 5.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 77.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SSP shares?
The recent increase in stakes in SSP appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in SSP has decreased by -1.15% in the first quarter. The company now owns 8,910,646 shares of the stock, with a value of $126.44 million, following the sale of -103,264 additional shares during the last quarter. Victory Capital Management, Inc. made another increased to its shares in SSP during the first quarter, upping its stake by 28.04%. During the last quarter, the company picked up 1,519,705 additional shares for a total stake of worth $98.48 million, bringing number of shares owned by the company to 6,940,276.
During the first quarter, The Vanguard Group, Inc. added a 118,985 position in SSP. Dimensional Fund Advisors LP purchased an additional 57571.0 shares in the last quarter, increasing its holdings by 1.09%, now holding 5.32 million shares worth $75.43 million. At the end of the first quarter, GAMCO Asset Management, Inc. decreased its SSP holdings by -1.42% and now holds 3.62 million SSP shares valued at $51.39 million with the lessened 52335.0 shares during the period. SSP shares are owned by institutional investors to the tune of 77.90% at present.