Needham & Company LLC cut shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) from a buy rating to a hold rating in a report issued on Monday, Marketbeat reports.
Several other equities research analysts also recently commented on the stock. Moffett Nathanson raised shares of Scripps Networks Interactive from a sell rating to a neutral rating and upped their target price for the company from $61.00 to $87.00 in a research note on Monday. Gabelli reaffirmed a buy rating on shares of Scripps Networks Interactive in a research note on Thursday, July 27th. Zacks Investment Research raised shares of Scripps Networks Interactive from a sell rating to a hold rating in a research note on Tuesday, July 25th. MKM Partners reaffirmed a neutral rating and issued a $73.00 target price (down previously from $84.00) on shares of Scripps Networks Interactive in a research note on Friday, July 21st. Finally, Wells Fargo & Company began coverage on shares of Scripps Networks Interactive in a research note on Thursday, July 20th. They issued a market perform rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Scripps Networks Interactive has a consensus rating of Hold and an average price target of $82.47.
Scripps Networks Interactive (NASDAQ:SNI) traded down 0.89% on Monday, reaching $87.27. 5,548,330 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $71.91 and its 200 day moving average price is $73.93. Scripps Networks Interactive has a 52-week low of $59.32 and a 52-week high of $88.45. The firm has a market capitalization of $11.32 billion, a PE ratio of 19.50 and a beta of 1.49.
Scripps Networks Interactive (NASDAQ:SNI) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.35. Scripps Networks Interactive had a net margin of 16.94% and a return on equity of 30.71%. The business had revenue of $855 million during the quarter, compared to the consensus estimate of $856.98 million. During the same period in the previous year, the firm posted $1.37 earnings per share. Scripps Networks Interactive’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts predict that Scripps Networks Interactive will post $5.49 EPS for the current fiscal year.
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In related news, major shareholder Gerald J. Scripps sold 30,000 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $69.65, for a total transaction of $2,089,500.00. Following the completion of the transaction, the insider now owns 78,323 shares in the company, valued at $5,455,196.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Edward W. Scripps sold 300,000 shares of the stock in a transaction on Friday, May 26th. The stock was sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the transaction, the insider now owns 232,071 shares of the company’s stock, valued at approximately $15,539,474.16. The disclosure for this sale can be found here. Insiders have sold 376,466 shares of company stock valued at $25,477,051 in the last three months. 2.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of 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 during the last quarter. BlackRock Inc. boosted its position 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. State Street Corp boosted its position in shares of 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 during the last quarter. FMR LLC boosted its position in shares of 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 during the last quarter. Finally, Pioneer Investment Management Inc. boosted its position in shares of Scripps Networks Interactive by 20.9% in the second quarter. Pioneer Investment Management Inc. now owns 2,288,068 shares of the company’s stock valued at $156,298,000 after buying an additional 396,253 shares during the last quarter. Institutional investors and hedge funds own 69.61% of the company’s stock.
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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