Jefferies Group Reaffirms Hold Rating for Scripps Networks Interactive Inc. (SNI)
Scripps Networks Interactive Inc. (NASDAQ:SNI)‘s stock had its “hold” rating reissued by stock analysts at Jefferies Group in a report issued on Tuesday. They currently have a $67.00 price target on the stock. Jefferies Group’s price target points to a potential upside of 4.49% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the company. Moffett Nathanson cut Scripps Networks Interactive from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $71.00 to $52.00 in a research note on Tuesday, September 27th. Citigroup Inc. decreased their price target on Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. Argus restated a “buy” rating and issued a $100.00 price target on shares of Scripps Networks Interactive in a research note on Tuesday, August 16th. Evercore ISI cut Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research note on Wednesday, August 10th. Finally, Stifel Nicolaus upgraded Scripps Networks Interactive from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.73.
Scripps Networks Interactive (NASDAQ:SNI) opened at 64.12 on Tuesday. The company has a market cap of $8.27 billion, a P/E ratio of 10.88 and a beta of 1.18. The stock’s 50 day moving average price is $62.85 and its 200 day moving average price is $63.97. Scripps Networks Interactive has a 1-year low of $50.81 and a 1-year high of $68.44.
Scripps Networks Interactive (NASDAQ:SNI) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.08. The business earned $892.80 million during the quarter, compared to analysts’ expectations of $893.46 million. Scripps Networks Interactive had a return on equity of 35.33% and a net margin of 22.91%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 earnings per share. On average, equities analysts anticipate that Scripps Networks Interactive will post $5.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 31st were given a $0.25 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. Scripps Networks Interactive’s payout ratio is 16.98%.
In other news, EVP Cynthia L. Gibson sold 2,238 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $62.25, for a total value of $139,315.50. Following the transaction, the executive vice president now directly owns 19,495 shares in the company, valued at $1,213,563.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Cynthia J. Scripps sold 95,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $63.17, for a total value of $6,001,150.00. Following the completion of the transaction, the insider now owns 65,706 shares in the company, valued at $4,150,648.02. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. increased its stake in Scripps Networks Interactive by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,808 shares of the company’s stock worth $113,000 after buying an additional 51 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Scripps Networks Interactive by 9.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 2,037 shares of the company’s stock worth $114,000 after buying an additional 170 shares in the last quarter. Pacer Advisors Inc. increased its stake in Scripps Networks Interactive by 8.8% in the second quarter. Pacer Advisors Inc. now owns 1,929 shares of the company’s stock worth $120,000 after buying an additional 156 shares in the last quarter. NEXT Financial Group Inc increased its stake in Scripps Networks Interactive by 17.8% in the second quarter. NEXT Financial Group Inc now owns 1,988 shares of the company’s stock worth $123,000 after buying an additional 300 shares in the last quarter. Finally, Barnett & Company Inc. purchased a new stake in Scripps Networks Interactive during the first quarter worth approximately $177,000. Institutional investors and hedge funds own 66.35% of the company’s stock.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.
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