Brokerages forecast that Scripps Networks Interactive, Inc (NASDAQ:SNI) will report $936.58 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Scripps Networks Interactive’s earnings, with the highest sales estimate coming in at $945.00 million and the lowest estimate coming in at $930.00 million. Scripps Networks Interactive posted sales of $892.77 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The business is expected to issue its next earnings results before the market opens on Wednesday, August 9th.

On average, analysts expect that Scripps Networks Interactive will report full year sales of $936.58 million for the current fiscal year, with estimates ranging from $3.57 billion to $3.60 billion. For the next year, analysts forecast that the business will report sales of $3.74 billion per share, with estimates ranging from $3.73 billion to $3.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Scripps Networks Interactive.

Scripps Networks Interactive (NASDAQ:SNI) last issued its earnings results on Thursday, May 4th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.35. Scripps Networks Interactive had a return on equity of 30.71% and a net margin of 16.94%. The business had revenue of $855 million during the quarter, compared to the consensus estimate of $856.98 million. During the same period last year, the company earned $1.37 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis.

SNI has been the subject of a number of analyst reports. J P Morgan Chase & Co reissued an “overweight” rating and issued a $83.00 price target on shares of Scripps Networks Interactive in a report on Monday, July 10th. Moffett Nathanson reiterated a “sell” rating on shares of Scripps Networks Interactive in a research note on Friday, June 9th. Royal Bank Of Canada set a $76.00 target price on Scripps Networks Interactive and gave the company a “hold” rating in a research note on Tuesday, June 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $76.00 target price on shares of Scripps Networks Interactive in a research note on Friday, April 28th. Finally, Zacks Investment Research lowered Scripps Networks Interactive from a “hold” rating to a “sell” rating in a research note on Monday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Scripps Networks Interactive has an average rating of “Hold” and an average target price of $76.86.

In related news, major shareholder Margaret Scripps Klenzing sold 46,466 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $71.01, for a total value of $3,299,550.66. Following the completion of the transaction, the insider now owns 10,013 shares of the company’s stock, valued at $711,023.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gerald J. Scripps sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $69.65, for a total value of $2,089,500.00. Following the sale, the insider now owns 78,323 shares in the company, valued at approximately $5,455,196.95. The disclosure for this sale can be found here. Insiders sold 376,466 shares of company stock valued at $25,477,051 in the last three months. 2.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of 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 during the last quarter. Ardevora Asset Management LLP bought a new stake in shares of Scripps Networks Interactive during the second quarter worth $36,286,000. WINTON GROUP Ltd boosted its stake in shares of Scripps Networks Interactive by 114.5% in the first quarter. WINTON GROUP Ltd now owns 670,023 shares of the company’s stock worth $42,540,000 after buying an additional 357,704 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Scripps Networks Interactive by 40.5% in the first quarter. Bank of New York Mellon Corp now owns 1,166,026 shares of the company’s stock worth $91,381,000 after buying an additional 335,940 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Scripps Networks Interactive during the first quarter worth $24,593,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

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Shares of Scripps Networks Interactive (NASDAQ:SNI) traded down 0.47% during mid-day trading on Friday, hitting $78.64. The company’s stock had a trading volume of 1,585,883 shares. The company has a market cap of $10.20 billion, a PE ratio of 17.57 and a beta of 1.44. Scripps Networks Interactive has a 12-month low of $59.32 and a 12-month high of $83.42. The stock has a 50-day moving average of $68.00 and a 200-day moving average of $73.39.

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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