Needham & Company Maintains a 'Buy' on Scripps Networks (SNI); Q2 Preview: Raising FY Estimates

Needham & Company maintains a 'Buy' on Scripps Networks Interactive (NYSE: SNI) price target of $62.00.

Analyst, Laura Martin, said, "We now estimate 2Q12 revenues of $594mm (up 11% y/y and 1% above our previous estimates), Operating Income of $247mm (down 2% y/y and 7% below our previous estimates), and Operating EPS of $0.87 (up 11% y/y and 1% above our previous estimates). Specifically, we are raising our 2Q12 revenue estimates to reflect better ratings in Q2 than we previously expected, offset by higher programming costs in the quarter. We are also raising our estimate for Equity in Earnings of Affiliates."

Raises FY12 EPS estmate from $3.29 to $3.30 and revenues from $2.299B to $2.302B.

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 $53.84 yesterday.

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