Needham & Company Maintains a 'Buy' on Scripps Networks Interactive (SNI); 2Q11 Earnings Preview

Needham & Company maintains a 'Buy' on Scripps Networks Interactive (NYSE: SNI), PT $62.

Needham analyst says, "Double digit revenue and profitability growth expected. For 2Q11, we estimate 11% y/y revenue growth to $530mm, 17% y/y segment profit growth to $261mm, and 21% y/y Operating Income growth to $238mm. We expect 13% y/y growth in Advertising revenue to $374mm reflecting solid ratings during the quarter. Our estimates for the continuing operations are largely unchanged...Shopzilla acquisition completed during 2Q11. The closing of the sale of the Interactive Services to a private equity group will enable SNI to focus on its core businesses. This divestiture lowers our aggregate sales and EPS estimates for SNI for FY11 and FY12."

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 $49.64 yesterday.

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