Sinclair Broadcast Group PT Raised to $42.00 (SBGI)
Stock analysts at Benchmark Co. increased their price target on shares of Sinclair Broadcast Group (NASDAQ:SBGI) from $22.00 to $42.00 in a report issued on Tuesday, Stock Ratings Network reports. The firm currently has a “buy” rating on the stock. Benchmark Co.’s price target points to a potential upside of 55.61% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 26th. Separately, analysts at Zacks upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 30th. They now have a $30.90 price target on the stock.
Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sinclair Broadcast Group presently has a consensus rating of “Hold” and an average target price of $32.18.
Sinclair Broadcast Group (NASDAQ:SBGI) traded up 7.41% on Tuesday, hitting $28.99. 1,717,878 shares of the company’s stock traded hands. Sinclair Broadcast Group has a 1-year low of $10.01 and a 1-year high of $31.99. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $25.00. The company has a market cap of $2.894 billion and a P/E ratio of 18.98.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $314.15 million for the quarter, compared to the consensus estimate of $311.93 million. During the same quarter last year, the company posted $0.37 earnings per share. Sinclair Broadcast Group’s revenue was up 25.1% compared to the same quarter last year. Analysts expect that Sinclair Broadcast Group will post $1.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Wednesday, August 28th.
Sinclair Broadcast Group, Inc is diversified television broadcasting company. The Company owns or provides certain programming, operating or sales services to more television stations.
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