Shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) traded down 10% during mid-day trading on Tuesday . The stock traded as low as $25.74 and last traded at $25.81, with a volume of 3,159,109 shares. The stock had previously closed at $28.68.

Separately, Zacks Investment Research downgraded Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.59.

The firm has a market cap of $2.45 billion, a PE ratio of 14.20 and a beta of 1.78. The company’s 50 day moving average is $28.85 and its 200-day moving average is $30.56.

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Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $666.50 million for the quarter, compared to analyst estimates of $658.61 million. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.48 earnings per share. On average, equities analysts anticipate that Sinclair Broadcast Group Inc. will post $3.06 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.77%. Sinclair Broadcast Group’s payout ratio is presently 39.34%.

Several institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Sinclair Broadcast Group during the fourth quarter worth approximately $23,691,000. BlackRock Institutional Trust Company N.A. raised its position in Sinclair Broadcast Group by 18.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,597,931 shares of the company’s stock worth $77,574,000 after buying an additional 402,273 shares during the last quarter. Bank of Montreal Can acquired a new position in Sinclair Broadcast Group during the second quarter worth approximately $7,599,000. Geode Capital Management LLC raised its position in Sinclair Broadcast Group by 54.1% in the first quarter. Geode Capital Management LLC now owns 673,221 shares of the company’s stock worth $20,701,000 after buying an additional 236,218 shares during the last quarter. Finally, Origin Asset Management LLP raised its position in Sinclair Broadcast Group by 100.4% in the first quarter. Origin Asset Management LLP now owns 406,074 shares of the company’s stock worth $12,487,000 after buying an additional 203,392 shares during the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.

About Sinclair Broadcast Group

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.

5 Day Chart for NASDAQ:SBGI

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