Sinclair Broadcast Group Short Interest Up 6.2% in August (SBGI)
Sinclair Broadcast Group (NASDAQ:SBGI) saw a large growth in short interest in August. As of August 15th, there was short interest totalling 17,640,645 shares, a growth of 6.2% from the July 31st total of 16,613,187 shares, StockRatingsNetwork.com reports. Approximately 26.5% of the company’s stock are short sold. Based on an average daily volume of 1,571,878 shares, the days-to-cover ratio is currently 11.2 days.
Sinclair Broadcast Group (NASDAQ:SBGI) opened at 29.051 on Tuesday. Sinclair Broadcast Group has a 52-week low of $23.93 and a 52-week high of $37.50. The stock’s 50-day moving average is $31.5 and its 200-day moving average is $29.78. The company has a market cap of $2.831 billion and a P/E ratio of 26.89.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.19 earnings per share. Sinclair Broadcast Group’s revenue was up 44.9% compared to the same quarter last year. Analysts expect that Sinclair Broadcast Group will post $1.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Investors 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 2.27%. The ex-dividend date of this dividend is Wednesday, August 27th. This is an increase 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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