E.W. Scripps Co. [NASDAQ: SSP] plunged by -$0.44 during the normal trading session on while it closed the day at $3.28. The company report on March 27, 2024 at 6:12 PM that GE Vernova and Solventum Set to Join S&P 500; Dentsply Sirona to Join S&P MidCap 400; Others to Join S&P SmallCap 600.
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600:.
Solventum Corp. (NYSE: SOLV) will be added to the S&P 500 effective prior to the open of trading on Monday, April 1, replacing V.F. Corp. (NYSE: VFC), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Wednesday, April 3. V.F. will replace ModivCare Inc. (NASD: MODV) in the S&P SmallCap 600 also effective prior to the open of trading on April 3. S&P 500 and 100 constituent 3M Co. (NYSE: MMM) is spinning off Solventum in a transaction expected to be completed April 1. Following the spin-off, the parent 3M will remain in the S&P 500 and S&P 100. V.F. is no longer representative of the large-cap market space, and ModivCare is no longer representative of the small-cap market space.
E.W. Scripps Co. stock has also loss -13.91% of its value over the past 7 days. However, SSP stock has declined by -58.95% in the 3 months of the year. Over the past six months meanwhile, it has lost -40.15% and lost -58.95% year-on date.
The market cap for SSP stock reached $277.55 million, with 72.84 million shares outstanding and 60.77 million shares in the current float. Compared to the average trading volume of 741.44K shares, SSP reached a trading volume of 13429420 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about E.W. Scripps Co. [SSP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SSP shares is $10.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SSP stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for E.W. Scripps Co. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 09, 2022. While these analysts kept the previous recommendation, Guggenheim raised their target price to Buy. The new note on the price target was released on October 22, 2020, representing the official price target for E.W. Scripps Co. stock. Previously, the target price had yet another drop from $25 to $24, while The Benchmark Company kept a Buy rating on SSP stock. On March 04, 2019, analysts increased their price target for SSP shares from 22 to 26.
The Average True Range (ATR) for E.W. Scripps Co. is set at 0.43, with the Price to Sales ratio for SSP stock in the period of the last 12 months amounting to 0.12. The Price to Book ratio for the last quarter was 0.37, with the Price to Cash per share for the same quarter was set at 0.42. Price to Free Cash Flow for SSP in the course of the last twelve months was 5.34 with Quick ratio for the last quarter at 1.41.
SSP stock trade performance evaluation
E.W. Scripps Co. [SSP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.91. With this latest performance, SSP shares dropped by -12.77% in over the last four-week period, additionally sinking by -40.15% over the last 6 months – not to mention a drop of -64.27% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SSP stock in for the last two-week period is set at 35.19, with the RSI for the last a single of trading hit 33.61, and the three-weeks RSI is set at 36.41 for E.W. Scripps Co. [SSP]. The present Moving Average for the last 50 days of trading for this stock 5.44, while it was recorded at 3.71 for the last single week of trading, and 7.07 for the last 200 days.
E.W. Scripps Co. [SSP]: An insightful look at the core fundamentals
E.W. Scripps Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.41 and a Current Ratio set at 1.41.
Earnings per share (EPS) analysis for E.W. Scripps Co. [SSP] stock
With the latest financial reports released by the company, E.W. Scripps Co. posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.38/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 2.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SSP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for E.W. Scripps Co. go to 10.00%.
E.W. Scripps Co. [SSP]: Institutional Ownership
The top three institutional holders of SSP stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in SSP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in SSP stock with ownership which is approximately 5.8386%.
