Sinclair Broadcast Group Inc. (SBGI) Receives Consensus Recommendation of “Buy” from Analysts
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) has been given an average rating of “Buy” by the six ratings firms that are presently covering the company. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $37.70.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Wedbush dropped their price target on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th.
Sinclair Broadcast Group (NASDAQ:SBGI) traded down 1.52% during mid-day trading on Tuesday, reaching $27.29. The company’s stock had a trading volume of 471,894 shares. Sinclair Broadcast Group has a 12-month low of $25.70 and a 12-month high of $35.89. The firm has a market cap of $2.58 billion, a PE ratio of 14.91 and a beta of 1.83. The company has a 50-day moving average price of $28.34 and a 200-day moving average price of $30.09.
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Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The firm had revenue of $666.50 million for the quarter, compared to the consensus estimate of $658.61 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s revenue for the quarter was up 20.3% on a year-over-year basis. On average, equities research analysts expect that Sinclair Broadcast Group will post $2.90 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.60%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 39.34%.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $28.63, for a total value of $57,260.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 29.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in SBGI. AXA acquired a new position in Sinclair Broadcast Group during the first quarter valued at about $5,261,000. Quadrature Capital Ltd acquired a new position in Sinclair Broadcast Group during the first quarter valued at about $375,000. UBS Group AG boosted its position in Sinclair Broadcast Group by 131.7% in the first quarter. UBS Group AG now owns 58,932 shares of the company’s stock valued at $1,813,000 after buying an additional 33,498 shares during the period. State Street Corp boosted its position in Sinclair Broadcast Group by 2.2% in the first quarter. State Street Corp now owns 1,218,427 shares of the company’s stock valued at $37,463,000 after buying an additional 26,433 shares during the period. Finally, Sentry Investment Management LLC acquired a new position in Sinclair Broadcast Group during the first quarter valued at about $489,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.
Sinclair Broadcast Group Company Profile
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.
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