Equities research analysts expect that Sinclair Broadcast Group Inc (NASDAQ:SBGI) will report $734.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Sinclair Broadcast Group’s earnings, with the highest sales estimate coming in at $745.22 million and the lowest estimate coming in at $728.00 million. Sinclair Broadcast Group posted sales of $797.69 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.9%. The business is expected to issue its next quarterly earnings results before the market opens on Wednesday, February 28th.
On average, analysts expect that Sinclair Broadcast Group will report full-year sales of $734.67 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.76 billion. For the next year, analysts anticipate that the firm will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Sinclair Broadcast Group.
A number of research firms have issued reports on SBGI. BidaskClub downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Ameriprise Financial reissued a “buy” rating and issued a $45.00 target price (up from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, FBR & Co began coverage on Sinclair Broadcast Group in a research note on Tuesday, October 31st. They issued a “buy” rating and a $43.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBGI. PNC Financial Services Group Inc. grew its stake in shares of Sinclair Broadcast Group by 141.1% in the second quarter. PNC Financial Services Group Inc. now owns 7,786 shares of the company’s stock worth $255,000 after acquiring an additional 4,556 shares during the last quarter. Northern Trust Corp grew its stake in shares of Sinclair Broadcast Group by 11.6% in the second quarter. Northern Trust Corp now owns 1,048,402 shares of the company’s stock worth $34,492,000 after acquiring an additional 108,809 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Sinclair Broadcast Group by 8.5% in the second quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after acquiring an additional 520,001 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Sinclair Broadcast Group by 29.7% in the second quarter. Voya Investment Management LLC now owns 33,743 shares of the company’s stock worth $1,110,000 after acquiring an additional 7,718 shares during the last quarter. Finally, Numeric Investors LLC purchased a new stake in shares of Sinclair Broadcast Group during the second quarter valued at $316,000. 81.60% of the stock is currently owned by hedge funds and other institutional investors.
Sinclair Broadcast Group (NASDAQ SBGI) traded down $0.95 on Monday, reaching $36.30. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51. The firm has a market capitalization of $3,690.00, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.80. Sinclair Broadcast Group has a twelve month low of $26.70 and a twelve month high of $43.05.
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About Sinclair Broadcast Group
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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