ValuEngine upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a hold rating to a buy rating in a report issued on Sunday, December 31st.
Several other brokerages also recently weighed in on SBGI. BidaskClub upgraded Sinclair Broadcast Group from a buy rating to a strong-buy rating in a report on Friday, December 22nd. Jefferies Group began coverage on Sinclair Broadcast Group in a report on Thursday, December 14th. They issued a buy rating and a $48.00 price target on the stock. B. Riley increased their price target on Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a buy rating in a report on Monday, November 27th. Wells Fargo & Co reiterated an outperform rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Finally, Zacks Investment Research upgraded Sinclair Broadcast Group from a hold rating to a buy rating and set a $34.00 price target on the stock in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $45.42.
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) opened at $38.75 on Friday. The stock has a market capitalization of $3,850.00, a P/E ratio of 14.57, a PEG 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. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). The company had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. Sinclair Broadcast Group’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 earnings per share. sell-side analysts predict that Sinclair Broadcast Group will post 1.98 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.86%. Sinclair Broadcast Group’s dividend payout ratio is presently 27.07%.
Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 stake in Sinclair Broadcast Group during the 2nd quarter worth about $141,000. FNY Managed Accounts LLC acquired a new stake in Sinclair Broadcast Group during the 3rd quarter worth about $153,000. Cheyne Capital Management UK LLP acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at about $170,000. Finally, Rational Advisors LLC acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at about $234,000. Institutional investors and hedge funds own 84.76% of the company’s stock.
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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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