Goldman Sachs Downgrades Scripps Networks Interactive (SNI) to Neutral, Cuts Estimates

December 6, 2012 8:32 AM EST
Get Alerts SNI Hot Sheet
Price: $75.34 +0.43%

Rating Summary:
    5 Buy, 18 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
Trade SNI Now!
Join SI Premium – FREE
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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst PT Change, Downgrades

Related Entities

Goldman Sachs

Add Your Comment