Jefferies Group Comments on Sinclair Broadcast Group, Inc.’s FY2017 Earnings (NASDAQ:SBGI)

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) – Analysts at Jefferies Group issued their FY2017 earnings per share (EPS) estimates for Sinclair Broadcast Group in a research note issued to investors on Thursday, Zacks Investment Research reports. Jefferies Group analyst J. Janedis expects that the company will post earnings of $1.96 per share for the year. Jefferies Group currently has a “Buy” rating and a $48.00 target price on the stock. Jefferies Group also issued estimates for Sinclair Broadcast Group’s Q4 2017 earnings at $0.64 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $3.21 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.66 EPS, Q3 2019 earnings at $0.49 EPS, FY2019 earnings at $2.39 EPS, FY2020 earnings at $3.99 EPS and FY2021 earnings at $2.83 EPS.

A number of other research firms have also weighed in on SBGI. B. Riley upped their target price on Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. FBR & Co initiated coverage on Sinclair Broadcast Group in a report on Tuesday, October 31st. They set a “buy” rating and a $43.00 price objective for the company. BidaskClub lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank initiated coverage on Sinclair Broadcast Group in a report on Friday, October 20th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Zacks Investment Research lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $45.42.

Sinclair Broadcast Group (NASDAQ:SBGI) traded up $0.65 during trading on Monday, reaching $39.40. The company’s stock had a trading volume of 2,284,360 shares, compared to its average volume of 2,381,220. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market capitalization of $3,850.00, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.96 and a beta of 1.93. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The company had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBGI. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Sinclair Broadcast Group by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after acquiring an additional 273 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Sinclair Broadcast Group in the 2nd quarter valued at $141,000. FNY Managed Accounts LLC acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at $153,000. Cheyne Capital Management UK LLP acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at $170,000. Finally, Teacher Retirement System of Texas increased its position in shares of Sinclair Broadcast Group by 2.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after acquiring an additional 164 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is 27.07%.

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Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.

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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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