Goldman Sachs Downgrades Scripps Networks Interactive (SNI) to Neutral, Cuts Estimates
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Price: $68.43 +0.81%
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
4 Buy, 10 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade SNI Now!
Goldman Sachs downgraded Scripps Networks Interactive (NYSE: SNI) from Buy to Neutral with a price target of $65.00 (from $69.00).
The firm cut 2013-14 EPS by 4-5% on lower advertising growth forecasts associated with weak Food Network ratings, which account for 40% of SNI total EBITDA. They now model US ad growth of 7% in 4Q, 9.4% in 2012 and 8.6% in 2013. They also lower 4Q12 EPS by 4% to $0.85, while lowering 2013-14 to $3.97/$4.52.
For an analyst ratings summary and ratings history on Scripps Networks Interactive click here. For more ratings news on Scripps Networks Interactive click here.
Shares of Scripps Networks Interactive closed at $57.70 yesterday, with a 52 week range of $40.42-$66.33.
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The firm cut 2013-14 EPS by 4-5% on lower advertising growth forecasts associated with weak Food Network ratings, which account for 40% of SNI total EBITDA. They now model US ad growth of 7% in 4Q, 9.4% in 2012 and 8.6% in 2013. They also lower 4Q12 EPS by 4% to $0.85, while lowering 2013-14 to $3.97/$4.52.
For an analyst ratings summary and ratings history on Scripps Networks Interactive click here. For more ratings news on Scripps Networks Interactive click here.
Shares of Scripps Networks Interactive closed at $57.70 yesterday, with a 52 week range of $40.42-$66.33.
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