EW Scripps Receives a Buy from Benchmark Co.

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on EW Scripps (NYSE: SSP) today and set a price target of $20. The company’s shares closed yesterday at $12.37.

Kurnos noted:

“We note that we are still below consensus for this year, although numbers have come down, while now being modestly ahead of consensus in 2019, eliminating at least some of the estimate risk. Change in Earnings Forecast Rating: Buy Current Price $12.37 Price Target $20.00 52-Wk Range $10.69 – $21.30 Shares Outstanding (mm) 84 Market Cap (mm) $1,042 Enterprise Value (mm) $1,240 Average Volume (000s) 450,986 Net Debt (mm) 198 Sector Weight Market Weight Daniel L. Kurnos, CFA 561-939-8262 dkurnos@benchmarkcompany.com FY Dec Q1 Q2 Q3 Q4 Total P/E EV/EBITDA EPS 2017A ($0.03)A $0.06A ($0.32)A $0.14A ($0.18)A -69x 2018E ($0.10)A $0.11E $0.31E $0.65E $0.98E 13x 2019E $0.15E $0.23E $0.19E $0.32E $0.88E 14x EBITDA 2017A $16A $32A $14A $35A $97A 13x 2018E $19A $29E $51E $88E $188E 7x 2019E $34E $43E $38E $53E $168E 7x The E.W.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 9.6% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.

EW Scripps has an analyst consensus of Moderate Buy, with a price target consensus of $17.

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The company has a one-year high of $20.35 and a one-year low of $10.69. Currently, EW Scripps has an average volume of 468.3K.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SSP in relation to earlier this year.

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The E.W. Scripps Co. engages in the television and newspaper publishing. It operates through the following business segments: Local Media, National Media, and Others. The Local Media segment is comprised of its local broadcast television stations and their related digital operations.