Shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) have received a consensus rating of “Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $49.86.
A number of equities research analysts have commented on the company. B. Riley upgraded Sinclair Broadcast Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $46.00 to $57.00 in a research report on Monday, May 6th. ValuEngine downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 9th. Evercore ISI upgraded Sinclair Broadcast Group from an “in-line” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Tuesday, May 7th. Finally, Benchmark boosted their price objective on Sinclair Broadcast Group from $45.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, May 7th.
In related news, Director Daniel C. Keith sold 13,250 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $56.58, for a total value of $749,685.00. Following the sale, the director now owns 46,000 shares in the company, valued at approximately $2,602,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David D. Smith acquired 395,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was purchased at an average price of $55.10 per share, for a total transaction of $21,764,500.00. The disclosure for this purchase can be found here. Insiders sold a total of 18,250 shares of company stock worth $1,017,345 in the last quarter. Company insiders own 32.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its stake in Sinclair Broadcast Group by 3.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 7,880 shares of the company’s stock worth $422,000 after purchasing an additional 275 shares in the last quarter. Legal & General Group Plc grew its stake in Sinclair Broadcast Group by 2.2% during the 4th quarter. Legal & General Group Plc now owns 46,818 shares of the company’s stock worth $1,233,000 after purchasing an additional 998 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Sinclair Broadcast Group by 1.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 56,694 shares of the company’s stock worth $2,182,000 after purchasing an additional 1,045 shares in the last quarter. Rhumbline Advisers grew its stake in Sinclair Broadcast Group by 1.3% during the 1st quarter. Rhumbline Advisers now owns 104,873 shares of the company’s stock worth $4,036,000 after purchasing an additional 1,382 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Sinclair Broadcast Group during the 2nd quarter worth $80,000. 65.29% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:SBGI traded down $0.82 on Friday, reaching $49.37. The company’s stock had a trading volume of 691,857 shares, compared to its average volume of 1,149,052. Sinclair Broadcast Group has a 12-month low of $25.14 and a 12-month high of $66.57. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 14.74 and a beta of 1.13. The company has a 50 day moving average of $54.73.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.16). Sinclair Broadcast Group had a net margin of 10.28% and a return on equity of 20.45%. The business had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $707.94 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Sinclair Broadcast Group’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Sinclair Broadcast Group will post 2.76 earnings per share for the current fiscal year.
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, sales, and other non-programming operating 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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