Nomura Securities Maintains a 'Neutral' on Scripps Networks Interactive (SNI); In-Line EPS and Lifestyle Media Revenue

Nomura Securities maintains a 'Neutral' on Scripps Networks Interactive (NYSE: SNI), PT $49.

Nomura analyst says, "Scripps Networks Interactive reported adj. 1Q EPS of $0.62, in line with our estimate and $0.03 ahead of consensus. Lifestyle Media EBITDA growth of 15% was slightly ahead of our 14.1% estimate due to modestly lower costs (revenues in line). Overall 1Q EBITDA growth of 17.6% (vs. 16% estimate) was driven by Lifestyle Media margin expansion, slightly higher Interactive Services profits and lower corporate losses."

"SNI is trading at 18x our last published 2011E earnings. We will revisit estimates following the earnings call scheduled at 10am. We still prefer media companies with big sticks to wield and Viacom (NYSE: VIA) (NYSE: VIA-B)(Buy-rated, $57 PT) as a share gainer."

For more ratings news on Scripps Networks Interactive click here and for the rating history of Scripps Networks Interactive click here.

Shares of Scripps Networks Interactive closed at $51.02 yesterday.

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