Zacks: Analysts Anticipate Sinclair Broadcast Group Inc (SBGI) to Post $0.56 EPS

Equities research analysts forecast that Sinclair Broadcast Group Inc (NASDAQ:SBGI) will post earnings per share (EPS) of $0.56 for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sinclair Broadcast Group’s earnings, with estimates ranging from $0.47 to $0.63. Sinclair Broadcast Group posted earnings per share of $0.30 in the same quarter last year, which would suggest a positive year over year growth rate of 86.7%. The company is expected to report its next earnings results before the market opens on Wednesday, November 7th.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $2.57. For the next year, analysts anticipate that the business will post earnings of $2.27 per share, with EPS estimates ranging from $1.83 to $2.95. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.25. The business had revenue of $730.10 million during the quarter, compared to analysts’ expectations of $715.55 million. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS.

Several equities research analysts have recently commented on SBGI shares. ValuEngine cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. B. Riley dropped their target price on shares of Sinclair Broadcast Group from $49.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 17th. Wells Fargo & Co dropped their target price on shares of Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 18th. BidaskClub cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Finally, Evercore ISI assumed coverage on shares of Sinclair Broadcast Group in a research report on Tuesday, July 31st. They issued an “in-line” rating and a $34.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.80.

Shares of SBGI opened at $29.50 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 10.54 and a beta of 1.28. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.96 and a quick ratio of 2.96. Sinclair Broadcast Group has a twelve month low of $25.13 and a twelve month high of $40.15.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sinclair Broadcast Group during the 2nd quarter valued at about $157,000. Exane Derivatives bought a new stake in Sinclair Broadcast Group during the 3rd quarter valued at about $159,000. Cerebellum GP LLC bought a new stake in Sinclair Broadcast Group during the 3rd quarter valued at about $193,000. Steward Partners Investment Advisory LLC increased its stake in Sinclair Broadcast Group by 355.6% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 8,200 shares of the company’s stock valued at $232,000 after purchasing an additional 6,400 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Sinclair Broadcast Group during the 3rd quarter valued at about $277,000. 77.24% of the stock is owned by institutional investors.

Sinclair Broadcast Group Company Profile

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

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