With several executives set to appear at NAB Show New York, the news from Wall Street concerning The E.W. Scripps Co. looks pretty good. The media company had a very good performance in Tuesday’s trading.
At the Closing Bell, SSP was up 4% to $13.31.
That puts Scripps back into rebound mode, and hopefully past an August meltdown that put SSP as low as $11.39.
Still, SSP has a long way to go to fully recover from a poor summer performance. It carries a 1-year target estimate of $18.29, and is down significantly from May 9, when after a $23.16 close spiraled into a free fall, leaving Scripps investors with a stock trading in the $15 range.
As such, Scripps’ year-to-date stock performance isn’t pretty:
On a five-year scale, SSP is an up-and-down issue, with a silver lining for investors concerned about where it is today.
In April 2018, SSP bottomed out at $11.13 per share. Then, it doubled in value one year later.
A repeat performance would be very welcomed by investors.