On May 8, The E.W. Scripps Co. released its Q1 2020 results, and they were quite good.
Now, a key Wall Street analyst has reiterated his “Buy” rating on the broadcast TV company’s stock.
So, why did it did fall by nearly 12% on Tuesday?
There was no clear reason as the Closing Bell rang on the Nasdaq Global Select market, as SSP finished the day at $7.84, down $1.07 from Monday.
The fall in value comes even as Noble Financial analyst Michael Kupinski reiterated his “Buy” rating on Scripps and set a price target of $12.
That was some 38.3% above Monday’s share price, and was based on an expectation that Scripps’ Q2 earnings per share would come in at 13 cents.
