Insider Selling: Scripps Networks Interactive CEO Sells 50,000 Shares of Stock (SNI)
Scripps Networks Interactive (NYSE:SNI) CEO Kenneth W. Lowe unloaded 50,000 shares of the stock on the open market in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $81.06, for a total transaction of $4,053,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on SNI. Analysts at Jefferies Group initiated coverage on shares of Scripps Networks Interactive in a research note on Thursday. They set a “hold” rating on the stock. Separately, analysts at ISI Group upgraded shares of Scripps Networks Interactive from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. They now have a $85.00 price target on the stock. Finally, analysts at Wunderlich upgraded shares of Scripps Networks Interactive from a “hold” rating to a “buy” rating in a research note on Friday, April 4th. They now have a $90.00 price target on the stock, up previously from $86.00. They noted that the move was a valuation call. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $85.36.
Shares of Scripps Networks Interactive (NYSE:SNI) traded up 0.12% during mid-day trading on Thursday, hitting $80.83. 288,239 shares of the company’s stock traded hands. Scripps Networks Interactive has a 52 week low of $65.64 and a 52 week high of $86.62. The stock’s 50-day moving average is $77.21 and its 200-day moving average is $77.69. The company has a market cap of $11.552 billion and a price-to-earnings ratio of 22.73.
Scripps Networks Interactive (NYSE:SNI) last released its earnings data on Thursday, May 8th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.05. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $645.05 million. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts expect that Scripps Networks Interactive will post $3.98 EPS for the current fiscal year.
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for television and the Internet with television and interactive brands.
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