Scripps Networks Interactive, Inc (SNI) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS
Scripps Networks Interactive, Inc (NASDAQ:SNI) issued its earnings results on Wednesday. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.09, Bloomberg Earnings reports. The business had revenue of $825.53 million for the quarter, compared to the consensus estimate of $838.63 million. Scripps Networks Interactive had a net margin of 18.20% and a return on equity of 29.93%. During the same quarter in the previous year, the firm earned $1.26 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 10th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. Scripps Networks Interactive’s payout ratio is currently 17.56%.
SNI has been the topic of several analyst reports. Gabelli reaffirmed a “buy” rating on shares of Scripps Networks Interactive in a report on Thursday, July 27th. Morgan Stanley raised their price objective on shares of Scripps Networks Interactive from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, August 24th. Needham & Company LLC cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Argus cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Scripps Networks Interactive from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Scripps Networks Interactive presently has a consensus rating of “Hold” and an average target price of $85.62.
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In other Scripps Networks Interactive news, Director Jeffrey Sagansky sold 1,159 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total value of $101,794.97. Following the completion of the sale, the director now directly owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
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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