In a report released today, Michael Kupinski from Noble Financial reiterated a Buy rating on EW Scripps (SSP), with a price target of $12.00. The company’s shares closed last Tuesday at $8.67.
According to TipRanks.com, Kupinski has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -10.7% and a 34.5% success rate. Kupinski covers the Services sector, focusing on stocks such as Tribune Publishing Co, Salem Communications, and Townsquare Media.
Currently, the analyst consensus on EW Scripps is a Strong Buy with an average price target of $13.50, implying a 50.5% upside from current levels. In a report issued on June 25, Benchmark Co. also maintained a Buy rating on the stock with a $15.00 price target.
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Based on EW Scripps’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $431 million and GAAP net loss of $11.81 million. In comparison, last year the company earned revenue of $292 million and had a GAAP net loss of $6.81 million.
Based on the recent corporate insider activity of 53 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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. The National Media segment is comprised of the operations of its national media businesses including over-the-air broadcast networks, Katz, its podcast business, Midroll, next generation national news network, Newsy, and other national brands. The company was founded by Edward Willis Scripps in 1878 and is headquartered in Cincinnati, OH.
