Growth and Income
The company is expected grow it EPS 24.4% in 2010, 16.4% in 2011, and 14.8% per year for the next 3 to 5 years. The stock also offers investors a dividend yield of 0.7%.
This Zacks #2 Rank stock trades at 21.2x 2010 consensus EPS estimates and 18.1x 2011 consensus EPS estimates.
Strong First-Quarter Results
On April 27, the company announced consolidated revenue of $469 million, an increase of 32%. Excluding Travel Channel, which was acquired Dec 15, 2009, consolidated revenue increased 16%. Scripps earned $0.50 per share, topping the Zacks Consensus Estimate by 7 cents, or 16.3%.
Company Outlook
The company essentially maintained its previous guidance. It expects affiliate fee revenue of $530-540 million, programming expenses of $380-400 million, and non-programming expenses (which were reduced slightly) of $545-560 million.
Estimates
The company's strong first-quarter results and management guidance prompted analysts to boost their estimates for 2010 and 2011. In the last 30 days, the Zacks Consensus Estimate for 2010 is up 8 cents, or 3.9%, to $2.15, and the 2011 Zacks Consensus Estimate is up 14 cents, or 5.9%, to $2.51.
The company has beaten the Zacks Consensus by an average of 7.6% in each of the last five quarters.
After bottoming around $27 in July 2009, SNI shares are up 67%. The stock experienced a sharp sell-off in February, dropping over 16%. However, the stock recovered nicely, making a new high on May 12.
SNI went through another sharp pullback in May, losing about 9%, but the stock has already pared some of those losses. It now trades just about 5% below its 52-week high.
No comments:
Post a Comment