Scripps Networks Interactive major shareholder Sells $8,011,000 in Stock (SNI)
Scripps Networks Interactive (NYSE:SNI) major shareholder William A. Scripps sold 100,000 shares of Scripps Networks Interactive stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $80.11, for a total value of $8,011,000.00. Following the completion of the transaction, the insider now directly owns 1,603,998 shares of the company’s stock, valued at approximately $128,496,280. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Evercore Partners raised their price target on shares of Scripps Networks Interactive from $80.00 to $89.00 in a research note on Wednesday, July 30th. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Scripps Networks Interactive in a research note on Wednesday, July 9th. They now have a $82.00 price target on the stock, up previously from $78.00. Finally, analysts at Jefferies Group initiated coverage on shares of Scripps Networks Interactive in a research note on Thursday, June 26th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $88.17.
Shares of Scripps Networks Interactive (NYSE:SNI) traded up 0.68% during mid-day trading on Tuesday, hitting $80.25. 302,659 shares of the company’s stock traded hands. Scripps Networks Interactive has a 1-year low of $71.33 and a 1-year high of $86.62. The stock’s 50-day moving average is $81.60 and its 200-day moving average is $78.61. The company has a market cap of $11.245 billion and a P/E ratio of 22.48.
Scripps Networks Interactive (NYSE:SNI) last released its earnings data on Thursday, August 7th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.01. The company had revenue of $708.00 million for the quarter, compared to the consensus estimate of $710.23 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts expect that Scripps Networks Interactive will post $3.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 27th.
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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