Sinclair Broadcast Group Inc. Hits New 52-Week High at $37.24 (SBGI)
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) hit a new 52-week high during mid-day trading on Friday, Analyst RN reports. The stock traded as high as $37.24 and last traded at $36.86, with a volume of 1,051,487 shares trading hands. The stock had previously closed at $35.41.
A number of research firms have recently commented on SBGI. Analysts at Wedbush initiated coverage on shares of Sinclair Broadcast Group in a research note to investors on Thursday. They set an “outperform” rating on the stock. Separately, analysts at Evercore Partners raised their price target on shares of Sinclair Broadcast Group from $37.00 to $40.00 in a research note to investors on Friday, November 15th. They now have an “overweight” rating on the stock. Finally, analysts at Evercore Partners raised their price target on shares of Sinclair Broadcast Group from $33.00 to $37.00 in a research note to investors on Monday, November 4th. They now have an “overweight” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $34.32.
In other Sinclair Broadcast Group news, Director Robert Smith sold 63,251 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $34.60, for a total transaction of $2,188,484.60. The transaction was disclosed in a filing with the SEC, which is available at this link.
Sinclair Broadcast Group has a 52 week low of $12.66 and a 52 week high of $36.57. The stock’s 50-day moving average is $33.50 and its 200-day moving average is $30.79. The company has a market cap of $3.680 billion and a price-to-earnings ratio of 24.20.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.24 by $0.12. The company had revenue of $303.00 million for the quarter, compared to the consensus estimate of $318.95 million. During the same quarter last year, the company posted $0.36 earnings per share. Sinclair Broadcast Group’s revenue was up 30.9% compared to the same quarter last year.
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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