$935.94 Million in Sales Expected for Scripps Networks Interactive, Inc (SNI) This Quarter
Wall Street brokerages expect Scripps Networks Interactive, Inc (NASDAQ:SNI) to report sales of $935.94 million for the current quarter, Zacks reports. Four analysts have provided estimates for Scripps Networks Interactive’s earnings. The lowest sales estimate is $925.00 million and the highest is $945.00 million. Scripps Networks Interactive posted sales of $892.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The business is scheduled to issue its next earnings report before the market opens on Wednesday, August 9th.
On average, analysts expect that Scripps Networks Interactive will report full year sales of $935.94 million for the current fiscal year, with estimates ranging from $3.53 billion to $3.60 billion. For the next financial year, analysts anticipate that the business will report sales of $3.70 billion per share, with estimates ranging from $3.63 billion to $3.75 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Scripps Networks Interactive.
SNI has been the topic of a number of recent analyst reports. Zacks Investment Research cut Scripps Networks Interactive from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Wells Fargo & Company initiated coverage on Scripps Networks Interactive in a report on Thursday, July 20th. They issued a “market perform” rating and a $82.00 price objective on the stock. Moffett Nathanson reiterated a “sell” rating on shares of Scripps Networks Interactive in a report on Friday, June 9th. J P Morgan Chase & Co upgraded Scripps Networks Interactive to a “neutral” rating and set a $83.00 price objective on the stock in a report on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $76.00 price objective on shares of Scripps Networks Interactive in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $82.47.
Shares of Scripps Networks Interactive (NASDAQ:SNI) opened at 87.26 on Thursday. Scripps Networks Interactive has a one year low of $59.32 and a one year high of $88.45. The stock has a 50 day moving average price of $73.67 and a 200 day moving average price of $74.23. The stock has a market capitalization of $11.32 billion, a P/E ratio of 19.50 and a beta of 1.49.
In other news, major shareholder Edward W. Scripps sold 300,000 shares of the company’s 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 sale, the insider now owns 232,071 shares of the company’s stock, valued at $15,539,474.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SNI. Mascoma Wealth Management LLC bought a new stake in Scripps Networks Interactive during the second quarter worth $130,000. James Investment Research Inc. bought a new stake in Scripps Networks Interactive during the first quarter worth $147,000. Mn Services Vermogensbeheer B.V. raised its stake in Scripps Networks Interactive by 6.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,175 shares of the company’s stock worth $159,000 after buying an additional 138 shares in the last quarter. Federated Investors Inc. PA raised its stake in Scripps Networks Interactive by 48.4% in the second quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock worth $163,000 after buying an additional 776 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its stake in Scripps Networks Interactive by 13.3% in the first quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock worth $168,000 after buying an additional 252 shares in the last quarter. 70.48% of the stock is currently owned by institutional investors and hedge funds.
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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