Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Given Consensus Rating of “Buy” by Analysts
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has earned an average rating of “Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $46.25.
Several equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price target on shares of Sinclair Broadcast Group in a research report on Wednesday. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Finally, Benchmark Co. lifted their price target on shares of Sinclair Broadcast Group from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th.
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In other news, insider David D. Smith acquired 4,400 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The stock was purchased at an average price of $36.77 per share, for a total transaction of $161,788.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence E. Mccanna sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total transaction of $69,500.00. The disclosure for this sale can be found here. 28.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its position in shares of Sinclair Broadcast Group by 0.6% in the fourth quarter. State Street Corp now owns 1,208,361 shares of the company’s stock worth $40,294,000 after buying an additional 7,289 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Sinclair Broadcast Group during the fourth quarter worth about $2,706,000. Guggenheim Capital LLC boosted its position in shares of Sinclair Broadcast Group by 9.8% in the fourth quarter. Guggenheim Capital LLC now owns 64,618 shares of the company’s stock worth $2,155,000 after buying an additional 5,788 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Sinclair Broadcast Group by 24.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,512 shares of the company’s stock worth $276,000 after buying an additional 1,654 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Sinclair Broadcast Group during the fourth quarter worth about $31,008,000. Hedge funds and other institutional investors own 71.82% of the company’s stock.
Shares of Sinclair Broadcast Group (SBGI) opened at 32.50 on Friday. Sinclair Broadcast Group has a one year low of $24.15 and a one year high of $43.05. The company has a market capitalization of $3.34 billion, a PE ratio of 10.95 and a beta of 1.79. The company’s 50-day moving average is $33.84 and its 200-day moving average is $36.09.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.29 by $0.03. Sinclair Broadcast Group had a net margin of 9.91% and a return on equity of 39.72%. The company had revenue of $649.90 million during the quarter, compared to analysts’ expectations of $646.94 million. During the same quarter in the previous year, the company earned $0.25 EPS. Sinclair Broadcast Group’s revenue was up 12.3% on a year-over-year basis. Equities analysts predict that Sinclair Broadcast Group will post $2.04 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, May 30th. Sinclair Broadcast Group’s dividend payout ratio is 24.08%.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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