Analysts predict that Sinclair Broadcast Group (NASDAQ:SBGI) will announce $660.32 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Sinclair Broadcast Group’s earnings. The highest sales estimate is $664.26 million and the lowest is $658.40 million. Sinclair Broadcast Group posted sales of $649.94 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The business is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, May 9th.
According to Zacks, analysts expect that Sinclair Broadcast Group will report full-year sales of $2.97 billion for the current fiscal year, with estimates ranging from $2.93 billion to $3.07 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.99 billion per share, with estimates ranging from $2.96 billion to $3.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Sinclair Broadcast Group.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $0.60 by $1.07. Sinclair Broadcast Group had a return on equity of 22.76% and a net margin of 21.07%. The company had revenue of $734.00 million during the quarter, compared to the consensus estimate of $733.41 million. During the same period last year, the company earned $1.32 EPS. Sinclair Broadcast Group’s revenue for the quarter was down 8.0% on a year-over-year basis.
Several equities research analysts recently commented on the company. BidaskClub downgraded Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 4th. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price objective on shares of Sinclair Broadcast Group in a report on Thursday, January 4th. Stephens set a $47.00 price objective on Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Tuesday, January 16th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Finally, B. Riley reduced their price objective on Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.64.
Several hedge funds have recently bought and sold shares of SBGI. OppenheimerFunds Inc. lifted its position in shares of Sinclair Broadcast Group by 32.6% during the 4th quarter. OppenheimerFunds Inc. now owns 2,874,958 shares of the company’s stock valued at $108,817,000 after buying an additional 706,386 shares in the last quarter. AXA purchased a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at about $8,399,000. Billings Capital Management LLC lifted its position in shares of Sinclair Broadcast Group by 475.6% during the 4th quarter. Billings Capital Management LLC now owns 289,475 shares of the company’s stock valued at $10,957,000 after buying an additional 239,184 shares in the last quarter. American Financial Group Inc. lifted its position in shares of Sinclair Broadcast Group by 182.8% during the 4th quarter. American Financial Group Inc. now owns 332,749 shares of the company’s stock valued at $12,594,000 after buying an additional 215,100 shares in the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Sinclair Broadcast Group by 2,566.3% during the 4th quarter. Schroder Investment Management Group now owns 213,300 shares of the company’s stock valued at $8,074,000 after buying an additional 205,300 shares in the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ SBGI opened at $29.25 on Friday. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $41.15. The stock has a market capitalization of $2,991.42, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 1.42 and a beta of 1.64. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.53.
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About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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