If you’re a shareholder of The E.W. Scripps Co. and you’ve been a bit unhappy with the broadcast television station owner’s share value in recent months, you may have a reason to cheer. That’s because Monday’s trading on the Nasdaq put “SSP” on track for its return to values above $3 per share.
With 75 minutes remaining in trading on June 15, Scripps shares were up by 12.1% to $2.9150 — a rise from a $1.93 close seen April 30 and a $1.43 closing price on March 11, before Scripps shares surged to $3.36 days later.
Since then, Scripps shares have been up and down, but not as low as the valuations seen in mid-March.
That said, analysts predict that there is more growth ahead for “SSP,” with a 1-year target price of $5.57 in place.
The next earnings report is due in early August.
