E.W. Scripps Company: Strong Performance and Strategic Positioning Support Buy Rating

Benchmark Co. analyst Daniel Kurnos has maintained their bullish stance on SSP stock, giving a Buy rating yesterday.

Daniel Kurnos has given his Buy rating due to a combination of factors that highlight E.W. Scripps Company’s strong performance and strategic positioning. The company not only exceeded expectations in the first quarter but also provided optimistic guidance for the second quarter, particularly in terms of EBITDA. This was achieved through stable distribution and network revenue growth, coupled with a significant reduction in network expenses, which positions the company well for future financial performance.
Additionally, the company’s management has identified opportunities in the current deregulatory environment that could lead to asset swaps and sales, aiding in deleveraging efforts. The potential for a WNBA renewal and refinancing of existing debt further strengthens the company’s strategic outlook. Despite some market volatility, the company’s focus on women’s sports and strong performance in the scatter market suggest it is well-positioned to capitalize on current market trends, supporting the Buy rating.

In another report released yesterday, Noble Financial also maintained a Buy rating on the stock with a $10.00 price target.

SSP’s price has also changed moderately for the past six months – from $2.010 to $2.510, which is a 24.88% increase.