Scripps Networks Interactive (SNI) Downgraded by Zacks Investment Research to “Sell”

Scripps Networks Interactive (NASDAQ:SNI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Scripps Networks, scheduled to be acquired by Discovery Communications this year has been struggling with high costs. Its bottom line in the fourth quarter of 2017 is likely to be hurt for the same reason. The company also continues to struggle due to weakness in the U.S. advertising market. Moreover, Scripps Networks is highly exposed to foreign currency exchange rate risks due to its presence in Europe and Asia. Scripps Networks is also a highly leveraged company. Evidently, the Zacks Consesnus Estimate for the fourth quarter has been revised south 1.6% over the last 90 days. However, the company has an impressive earnings history having surpassed estimates in three of the last four quarters. In fact, shares of the company have outperformed its industry in a year.”

A number of other equities research analysts have also recently weighed in on SNI. BidaskClub upgraded Scripps Networks Interactive from a “sell” rating to a “hold” rating in a report on Thursday, December 28th. Royal Bank of Canada restated a “hold” rating and issued a $90.00 price target on shares of Scripps Networks Interactive in a report on Wednesday, September 20th. Sanford C. Bernstein restated a “market perform” rating on shares of Scripps Networks Interactive in a report on Tuesday, September 12th. Finally, Cowen restated a “hold” rating and issued a $90.00 price target on shares of Scripps Networks Interactive in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.62.

Scripps Networks Interactive (NASDAQ SNI) traded up $0.18 on Friday, hitting $86.14. The company had a trading volume of 1,095,915 shares, compared to its average volume of 913,000. The firm has a market cap of $11,255.83, a PE ratio of 18.45, a P/E/G ratio of 2.27 and a beta of 1.44. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.90. Scripps Networks Interactive has a 1-year low of $64.87 and a 1-year high of $88.45.

Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $825.53 million for the quarter, compared to analysts’ expectations of $838.63 million. Scripps Networks Interactive had a return on equity of 27.04% and a net margin of 17.46%. During the same quarter in the prior year, the firm posted $1.26 EPS. equities analysts expect that Scripps Networks Interactive will post 5.53 earnings per share for the current fiscal year.

In other Scripps Networks Interactive news, Director Michael R. Costa sold 18,955 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $83.64, for a total transaction of $1,585,396.20. Following the transaction, the director now owns 13,035 shares of the company’s stock, valued at approximately $1,090,247.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey Sagansky sold 1,077 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $79.61, for a total value of $85,739.97. Following the transaction, the director now directly owns 7,520 shares in the company, valued at approximately $598,667.20. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Scripps Networks Interactive by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 8,688,173 shares of the company’s stock worth $593,489,000 after buying an additional 542,575 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Scripps Networks Interactive by 18.3% during the 2nd quarter. BlackRock Inc. now owns 8,455,399 shares of the company’s stock worth $577,591,000 after buying an additional 1,308,844 shares during the last quarter. State Street Corp increased its holdings in shares of Scripps Networks Interactive by 0.5% during the 2nd quarter. State Street Corp now owns 3,749,940 shares of the company’s stock worth $256,149,000 after buying an additional 16,947 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in shares of Scripps Networks Interactive during the 3rd quarter worth $310,922,000. Finally, FMR LLC increased its holdings in shares of Scripps Networks Interactive by 24.6% during the 2nd quarter. FMR LLC now owns 3,371,082 shares of the company’s stock worth $230,278,000 after buying an additional 665,805 shares during the last quarter. 60.86% of the stock is currently owned by institutional investors.

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Scripps Networks Interactive Company Profile

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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