MKM Partners Reiterates a 'Buy' on Scripps Networks Interactive (SNI); Solid Q2 Performance
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Price: $67.93 +0.73%
Rating Summary:
4 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
4 Buy, 11 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade SNI Now!
MKM Partners reiterates a 'Buy' on Scripps Networks Interactive (NYSE: SNI) price target of $62.00 (from $60.00).
Analyst, Eric Handler, said, "We maintain a positive view toward Scripps as a still healthy ad market and ongoing strength at Food Network drove a solid 2Q performance. Results in the quarter exceeded expectations across all key measures. Although a higher non-programming expense forecast (mainly from higher marketing spending for upcoming program launches) is resulting in a slight cut to our EBITDA projection for the year to $1.03bn (+6%) from $1.05bn, we are raising our EPS estimate to $3.38 from $3.30 to reflect the 2Q upside, a lower full year tax rate, and a reduced share count due to a higher level of share repurchases."
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 $56.17 yesterday, with a 52 week range of $33.82-$57.75.
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Analyst, Eric Handler, said, "We maintain a positive view toward Scripps as a still healthy ad market and ongoing strength at Food Network drove a solid 2Q performance. Results in the quarter exceeded expectations across all key measures. Although a higher non-programming expense forecast (mainly from higher marketing spending for upcoming program launches) is resulting in a slight cut to our EBITDA projection for the year to $1.03bn (+6%) from $1.05bn, we are raising our EPS estimate to $3.38 from $3.30 to reflect the 2Q upside, a lower full year tax rate, and a reduced share count due to a higher level of share repurchases."
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 $56.17 yesterday, with a 52 week range of $33.82-$57.75.
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