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Momentum

Michael Vodicka

Home Shopping Network, Inc.

HSNI

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Home Shopping Network, Inc. (HSNI - Snapshot Report) just jumped into a new all-time high, fueled by another strong quarter that included a 21% earnings surprise. With a high industry rank and bullish growth projection, this Zacks #1 rank stock is hopped up with momentum.

Company Description

HSN, Inc. markets and sells a range of third-party and private label merchandise primarily in the United States. The company was founded in 1981 and has a market cap of $2.16 billion.

HSNI has been solid in 2011, recently hitting a new all-time high in spite of high unemployment and uncertainty over growth. Those gains have been driven by impressive growth, last on display in November with strong Q3 results that came in ahead of expectations.

Third-Quarter Results

Revenue for the period was up 6% from last year to $751 million. Earnings also came in strong at 41 cents, 21% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 15% over the last four quarters.

Digital sales stood out as a driver of the good quarter, with sales up 10% from last year. Margins were also on the upswing, with gross margin up 100 basis points from last year to 36.3%.

Estimates

We saw some decent movement in estimates off the good quarter, with the current year up 4 cents to $2.09. The next-year estimate is pegged at $2.48, a bullish 19% growth projection.

Valuation

With a PEG ratio of .95, HSNI trades at a discount to the benchmark of 1 for value.

12-Month Chart

On the chart, HSNI has been grinding higher all year, recently hitting a new all-time high on the good quarter and bullish growth projection. Take a look below.

Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Whisper Trader Service.

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