Scripps Networks Interactive (SNI) Cut to Sell at Zacks Investment Research

Scripps Networks Interactive (NASDAQ:SNI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, January 5th.

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.”

Several other research analysts also recently commented on the company. Royal Bank of Canada set a $90.00 price objective on Scripps Networks Interactive and gave the stock a “hold” rating in a report on Friday, October 20th. BidaskClub downgraded Scripps Networks Interactive from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Cowen reaffirmed a “hold” rating and set a $90.00 target price on shares of Scripps Networks Interactive in a research report on Friday, September 8th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Scripps Networks Interactive in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $85.62.

Shares of Scripps Networks Interactive (NASDAQ:SNI) traded up $0.19 during midday trading on Friday, hitting $87.87. The stock had a trading volume of 528,248 shares, compared to its average volume of 983,928. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.19 and a current ratio of 3.19. Scripps Networks Interactive has a 12-month low of $64.87 and a 12-month high of $88.45. The stock has a market capitalization of $11,410.00, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 2.30 and a beta of 1.44.

Scripps Networks Interactive (NASDAQ:SNI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. The firm had revenue of $825.53 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business posted $1.26 earnings per share. research analysts expect that Scripps Networks Interactive will post 5.53 EPS for the current year.

In other Scripps Networks Interactive news, Director Jeffrey Sagansky sold 1,077 shares of Scripps Networks Interactive stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $79.61, for a total transaction of $85,739.97. Following the completion of the transaction, the director now owns 7,520 shares in the company, valued at approximately $598,667.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Costa sold 18,955 shares of Scripps Networks Interactive stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $83.64, for a total value of $1,585,396.20. Following the completion of the transaction, the director now owns 13,035 shares of the company’s stock, valued at approximately $1,090,247.40. The disclosure for this sale can be found here. Company insiders own 2.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC boosted its holdings in Scripps Networks Interactive by 14.2% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,552 shares of the company’s stock worth $106,000 after buying an additional 193 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in Scripps Networks Interactive in the 2nd quarter worth about $126,000. Valeo Financial Advisors LLC acquired a new stake in Scripps Networks Interactive in the 3rd quarter worth about $162,000. Federated Investors Inc. PA boosted its holdings in Scripps Networks Interactive by 48.4% in the 2nd quarter. Federated Investors Inc. PA now owns 2,378 shares of the company’s stock worth $163,000 after buying an additional 776 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Scripps Networks Interactive in the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 60.82% of the company’s stock.

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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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