Benchmark Upgrades The E.W. Scripps Company (SSP) to Buy; Improving Broadcast Profile
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Price: $3.27 -0.61%
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Benchmark upgraded The E.W. Scripps Company (NYSE: SSP) from Hold to Buy, price target raised from $10.50 to $11.00.
Analyst, Edward J. Atorino, said, "Upgrading to Buy as the addition of four TV stations recently acquired from McGraw-Hill (NYSE: MHP)(Hold) raised broadcasting to 53% of revenues and 83% of EBITDA vs. 41% and 67% respectively previously. More importantly, the acquisition expands Scripps exposure from 7 to 10 of the top 31 markets and provides potential for significant improvement in growth through increased market share of ad revenues and improved margins, as evidenced in Scripps’ recent strong 1Q12 results. Meanwhile, the balance sheet remains one of the strongest in the industry, with net debt expected to be de minimis by year-end."
For an analyst ratings summary and ratings history on The E.W. Scripps Company click here. For more ratings news on The E.W. Scripps Company click here.
Shares of The E.W. Scripps Company closed at $9.06 yesterday.
Analyst, Edward J. Atorino, said, "Upgrading to Buy as the addition of four TV stations recently acquired from McGraw-Hill (NYSE: MHP)(Hold) raised broadcasting to 53% of revenues and 83% of EBITDA vs. 41% and 67% respectively previously. More importantly, the acquisition expands Scripps exposure from 7 to 10 of the top 31 markets and provides potential for significant improvement in growth through increased market share of ad revenues and improved margins, as evidenced in Scripps’ recent strong 1Q12 results. Meanwhile, the balance sheet remains one of the strongest in the industry, with net debt expected to be de minimis by year-end."
For an analyst ratings summary and ratings history on The E.W. Scripps Company click here. For more ratings news on The E.W. Scripps Company click here.
Shares of The E.W. Scripps Company closed at $9.06 yesterday.
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