Investors Purchase Large Volume of Call Options on Sinclair Broadcast Group (SBGI)
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) were the recipient of unusually large options trading on Wednesday. Stock traders acquired 11,101 call options on the company, Stock Ratings Network.com reports. This represents an increase of 486% compared to the typical volume of 1,894 call options.
A number of analysts have recently weighed in on SBGI shares. Analysts at Zacks upgraded shares of Sinclair Broadcast Group from an “underperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $28.60 price target on the stock. Separately, analysts at Evercore Partners cut their price target on shares of Sinclair Broadcast Group from $37.00 to $36.00 in a research note on Monday, April 28th. They now have an “overweight” rating on the stock. Finally, analysts at TheStreet downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $33.77.
Sinclair Broadcast Group (NASDAQ:SBGI) traded up 0.03% on Wednesday, hitting $30.46. 623,235 shares of the company’s stock traded hands. Sinclair Broadcast Group has a one year low of $23.28 and a one year high of $37.50. The stock’s 50-day moving average is $28.45 and its 200-day moving average is $30.01. The company has a market cap of $2.967 billion and a price-to-earnings ratio of 35.78.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings data on Wednesday, May 7th. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.05. The company had revenue of $412.65 million for the quarter, compared to the consensus estimate of $403.27 million. During the same quarter last year, the company posted $0.21 earnings per share. Sinclair Broadcast Group’s revenue was up 46.0% compared to the same quarter last year. Analysts expect that Sinclair Broadcast Group will post $1.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Wednesday, May 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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