Wall Street reacts to reports of Discovery, Scripps merger talks


WARNING: "Scripps Networks Interactive, Inc (SNI) Now Covered by Analysts at Wells Fargo & Company" was published by Sports Perspectives and is the property of of Sports Perspectives. Cubist Systematic Strategies Lc stated it has 0.01% in Scripps Networks Interactive, Inc. However, the company's most recent quarter increase of 4.7% looks unattractive. For the quarter, shares have been noted at 2.18%.

Williams Jones & Associates Llc increased Schwab Charles Corp New Com (NYSE:SCHW) stake by 13,640 shares to 257,122 valued at $10.15M in 2016Q4. New South Capital has invested 2.72% in Scripps Networks Interactive, Inc. Tennessee-based New South Capital Management Inc has invested 2.72% in Scripps Networks Interactive, Inc. Assetmark Inc. now owns 2,542 shares of the company's stock valued at $199,000 after buying an additional 67 shares during the last quarter. Institutional investors own 73.95% of the company's stock. Scripps shares were up 13% in after-hours trading, while Discovery shares were up nearly 8%. About 446,353 shares traded. Scripps Networks Interactive C now has $9.70 billion valuation. Looking out over the past year, company shares have been recorded -5.06% off the 52 week high and 33.50% away from the low over the same period. The 50 day moving average was up $9.55 or +14.18% and the 200 day average was up $3.56.

Scripps Networks and Discovery Communications jumped after The Wall Street Journal reported that the two companies are in talks to combine. The company beat the analyst EPS Estimate with the difference of $0.08. Calvert Invest Mngmt reported 0.02% of its portfolio in Scripps Networks Interactive, Inc.

RGC has price to earnings ratio of 17.98 and the price to current year EPS stands at -3.70%.

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Analyst research firms are expressing bullish stance on Scripps Networks Interactive, Inc.

TRADEMARK VIOLATION WARNING: This report was first reported by Markets Daily and is owned by of Markets Daily.

"We remain unconvinced that a combination, particularly between companies primarily in the non-fiction content networks business, addresses the long-term secular trends of pressure on bundled channels and live-linear viewing", he added.

Scripps Networks Interactive (NASDAQ:SNI) last posted its quarterly earnings data on Thursday, May 4th.

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SNI has been the topic of a number of recent research reports. The negative sentiment surrounding the stock can be gauged from the fact that the Zacks Consensus Estimate for the quarter has moved down 1.93% in the last month to $1.52 per share. Moffett Nathanson downgraded the shares of SNI in report on Tuesday, September 27 to "Sell" rating. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company.

The Stock had a 2.45 Consensus Analyst Recommendation 30 Days Ago, whereas 60 days ago and 90 days ago the analyst recommendations were 2.54 and 2.69 respectively.

Scripps' lifestyle-centric portfolio includes HGTV, Food Network, DIY Network, Cooking Channel, Travel Channel and Great American Country.

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