Scripps Networks Interactive, Inc. (SNI) Receives Consensus Recommendation of “Hold” from Brokerages
Scripps Networks Interactive, Inc. (NASDAQ:SNI) has been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the company. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $76.82.
A number of research analysts have recently weighed in on the stock. Royal Bank of Canada increased their target price on shares of Scripps Networks Interactive from $70.00 to $87.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 22nd. Needham & Company LLC increased their target price on shares of Scripps Networks Interactive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. JPMorgan Chase & Co. raised shares of Scripps Networks Interactive from an “underweight” rating to a “neutral” rating and set a $83.00 target price for the company in a research report on Friday, May 5th. MKM Partners reissued a “neutral” rating on shares of Scripps Networks Interactive in a research report on Thursday, February 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $76.00 target price on shares of Scripps Networks Interactive in a research report on Monday, May 15th.
Shares of Scripps Networks Interactive (NASDAQ:SNI) traded down 1.17% during midday trading on Tuesday, reaching $67.43. 784,993 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $72.99 and a 200 day moving average price of $74.16. The firm has a market cap of $8.75 billion, a PE ratio of 15.07 and a beta of 1.16. Scripps Networks Interactive has a 12 month low of $58.73 and a 12 month high of $83.42.
Scripps Networks Interactive (NASDAQ:SNI) last released its earnings results on Thursday, May 4th. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.35. Scripps Networks Interactive had a net margin of 23.37% and a return on equity of 34.21%. The firm had revenue of $855 million during the quarter, compared to the consensus estimate of $856.98 million. During the same period in the prior year, the firm earned $1.37 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Scripps Networks Interactive will post $5.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 31st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, May 26th. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 16.53%.
In other Scripps Networks Interactive news, major shareholder Eva Scripps Attal sold 319,454 shares of the stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $80.64, for a total value of $25,760,770.56. Following the sale, the insider now directly owns 6,085 shares in the company, valued at approximately $490,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Gerald J. Scripps sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $69.65, for a total transaction of $2,089,500.00. Following the completion of the sale, the insider now owns 78,323 shares in the company, valued at $5,455,196.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,489,559 shares of company stock valued at $117,226,333. 2.30% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Scripps Networks Interactive by 3.3% in the first quarter. Vanguard Group Inc. now owns 8,145,598 shares of the company’s stock valued at $638,371,000 after buying an additional 260,963 shares in the last quarter. BlackRock Inc. boosted its stake in Scripps Networks Interactive by 4,188.7% in the first quarter. BlackRock Inc. now owns 7,146,555 shares of the company’s stock valued at $560,078,000 after buying an additional 6,979,918 shares in the last quarter. State Street Corp boosted its stake in Scripps Networks Interactive by 1.5% in the first quarter. State Street Corp now owns 3,732,993 shares of the company’s stock valued at $292,564,000 after buying an additional 53,491 shares in the last quarter. FMR LLC boosted its stake in Scripps Networks Interactive by 10.1% in the first quarter. FMR LLC now owns 2,705,277 shares of the company’s stock valued at $212,012,000 after buying an additional 248,772 shares in the last quarter. Finally, Capital International Investors boosted its stake in Scripps Networks Interactive by 26.7% in the third quarter. Capital International Investors now owns 1,927,750 shares of the company’s stock valued at $122,393,000 after buying an additional 406,250 shares in the last quarter. Institutional investors and hedge funds own 66.76% of the company’s stock.
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About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
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