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Viacom Is Said to Drop Out of Bidding for Scripps Networks

27 Juillet 2017

Viacom, the owner of Comedy Central, MTV, and Nickelodeon, had earlier reportedly made an all-cash bid for Scripps, the value of which could be as much as $10.6 billion. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Scripps Networks Interactive by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,461 shares of the company's stock worth $390,000 after buying an additional 24 shares during the period.

Shares of Sanchez Energy Corp (NYSE:SN) declined -6.60% to $5.88 on Wednesday, soon after an independent exploration and production company declared operating results for the second quarter 2017. $4.03M worth of Scripps Networks Interactive, Inc. The typical day in the last one month has seen about a 2.52% volatility.

Derek Chang, Head of International Lifestyle Channels for Scripps Networks Interactive, added: "The global expansion of Scripps Lifestyle Studios will allow Scripps Networks to quickly scale a greater global presence for our premier brands, using local expertise to accelerate the creation, distribution, and monetization of the content while assisting source additional content and to identify fresh new talent". Transamerica Financial Advisors Inc. now owns 9,204 shares of the company's stock worth $722,000 after buying an additional 60 shares in the last quarter. Hallmark Capital Management Incorporated holds 2.13% or 208,530 shares in its portfolio. UBS Asset Management Americas has an ownership of 223,303 company stock worth at $15,938,000 after scooping up an extra 31,000 shares through out the quarter.

Dimensional Fund Advisors increased its position in Scripps Networks Interactive, (NASDAQ:SNI) by 0.8% during the Q1, based on the latest document with the Security and Exchange Commission. RSI measures the speed and change of a stock price to warn investors when a stock's momentum has carried it too far. The stock's 50 day SMA price is $68.68 and its 200 SMA price is $73.46. NFLX price is down almost -0.33% from its 52-week high price of $189.7 a share but is up about 52.14% from its 52-week low price of $90.5 a share.

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The P/E ratio is now 18.79 and the market cap is 10.91B. A month ago, analyst EPS consensus estimated earnings of US$1.55 per share. The company posted earnings of $855 M for the period end, compared to the average forecast of $856.98 M. Scripps Networks Interactive had a net profit margin of 16.94% and a ROE of 30.71%. The total volume traded for the day is 2.70M, as compared to its average daily volume of 2.05M shares.

Discovery, partially controlled by billionaire media mogul John Malone, has been flirting with Scripps for several years and, in fact, it is at least the third time the rival companies have held merger talks.

Netflix, Inc. (NFLX) have shown a high EPS growth of -6.50% in the last 5 years and has earnings rose of 51.50% yoy.

Scripps Networks Interactive (NASDAQ:SNI) last announced its quarterly earnings results on Thursday, May 4th. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & global trademark and copyright legislation. (NASDAQ:SNI) higher to the next line of resistance at $85.94 a share. Scripps Networks, which closed on Wall Street up 3% at $84.07 on Wednesday, holds a market value of nearly $11 billion. Jefferies Group LLC restated a "hold" rating and issued a $76.00 price target on shares of Scripps Networks Interactive in a research note on Friday, April 28th. Finally, Zacks Investment Research lowered shares of Scripps Networks Interactive from a "hold" rating to a "sell" rating in a report on Monday, July 17th. The company has a consensus rating of "Hold" and a consensus price target of $76.60. The shares were sold at an average price of $71.01, for a total transaction of $3,299,550.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. An RSI reading above 80 indicates that a stock is overbought while anything below 20 is oversold. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,466 shares of company stock worth $25,477,051.

Viacom Is Said to Drop Out of Bidding for Scripps Networks