BidaskClub lowered shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a buy rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.
Several other equities research analysts also recently weighed in on SBGI. Benchmark increased their target price on shares of Sinclair Broadcast Group from $45.00 to $90.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Evercore ISI raised shares of Sinclair Broadcast Group from an in-line rating to an outperform rating and set a $61.00 price target on the stock in a research note on Tuesday, May 7th. ValuEngine downgraded shares of Sinclair Broadcast Group from a buy rating to a hold rating in a research note on Thursday. B. Riley raised shares of Sinclair Broadcast Group from a neutral rating to a buy rating and raised their price target for the stock from $46.00 to $57.00 in a research note on Monday, May 6th. Finally, Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a hold rating to a strong sell rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $49.75.
Shares of SBGI traded down $0.82 during midday trading on Friday, hitting $49.37. The stock had a trading volume of 691,857 shares, compared to its average volume of 1,149,052. Sinclair Broadcast Group has a 1 year low of $25.14 and a 1 year high of $66.57. The stock 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 current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 2.66. The company’s 50 day moving average is $54.73.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $707.94 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Sinclair Broadcast Group will post 2.76 earnings per share for the current year.
In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $53.16, for a total transaction of $106,320.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David D. Smith bought 395,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were acquired 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 ninety days. 32.30% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in Sinclair Broadcast Group by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,181,634 shares of the company’s stock worth $83,805,000 after acquiring an additional 27,711 shares in the last quarter. Norges Bank bought a new position in Sinclair Broadcast Group during the 4th quarter worth about $37,682,000. JPMorgan Chase & Co. grew its holdings in Sinclair Broadcast Group by 33.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,280,500 shares of the company’s stock worth $49,274,000 after acquiring an additional 317,424 shares in the last quarter. AJO LP grew its holdings in Sinclair Broadcast Group by 964.8% during the 1st quarter. AJO LP now owns 1,136,315 shares of the company’s stock worth $43,725,000 after acquiring an additional 1,029,595 shares in the last quarter. Finally, LSV Asset Management grew its holdings in Sinclair Broadcast Group by 61.2% during the 1st quarter. LSV Asset Management now owns 937,637 shares of the company’s stock worth $36,080,000 after acquiring an additional 355,804 shares in the last quarter. Institutional investors own 65.29% of the company’s stock.
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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