Shares of Scripps Networks Interactive have climbed from $43 at the first of the year to about $51 today, not far from their 52-week high.
But analysts have in recent days “become increasingly bearish” on the Knoxville-based lifestyle media company which will report first quarter earnings on Thursday, according to Forbes.com.
Analysts are now expecting earnings of 60 cents per share – down 3.2 percent from a year ago.
Scripps’ revenue has been down the last two quarters and analysts expect a 3.1 percent year-over-year drop for the first quarter, Forbes reports.
Will Scripps beat expectations?
Chances are decent the report will be better than expected, I’d say. So far this earnings season analysts have been wrong more than they’ve been right.
Click here for Forbes’ Scripps earnings preview.
Disclosure: I own a small number of SNI shares.