Sinclair Broadcast Group Short Interest Down 12.3% in July (SBGI)
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) were the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 16,613,187 shares, a decrease of 12.3% from the July 15th total of 18,952,920 shares, AmericanBankingNews.com reports. Currently, 24.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 963,901 shares, the days-to-cover ratio is presently 17.2 days.
Sinclair Broadcast Group (NASDAQ:SBGI) opened at 32.29 on Tuesday. Sinclair Broadcast Group has a 52 week low of $23.28 and a 52 week high of $37.50. The stock’s 50-day moving average is $33.40 and its 200-day moving average is $29.76. The company has a market cap of $3.145 billion and a price-to-earnings ratio of 30.17.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $455.14 million for the quarter, compared to the consensus estimate of $440.66 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 44.9% on a year-over-year basis. Analysts expect that Sinclair Broadcast Group will post $1.88 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, August 27th. This is a boost from Sinclair Broadcast Group’s previous quarterly dividend of $0.15.
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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