Sinclair Broadcast Group, Inc. (SBGI) Set to Announce Quarterly Earnings on Wednesday
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) will be issuing its quarterly earnings data on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.43 per share for the quarter.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business had revenue of $679.30 million for the quarter, compared to analyst estimates of $678.23 million. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, analysts expect Sinclair Broadcast Group to post $2.05 EPS for the current fiscal year and $3.13 EPS for the next fiscal year.
Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) opened at 30.80 on Wednesday. Sinclair Broadcast Group, Inc. has a 12 month low of $24.15 and a 12 month high of $43.05. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 10.80 and a beta of 1.83. The firm has a 50-day moving average of $29.95 and a 200 day moving average of $33.08.
Several research firms have issued reports on SBGI. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Saturday, August 5th. Benchmark Co. upped their target price on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Wells Fargo & Company restated an “outperform” rating and set a $55.00 target price on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. ValuEngine cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $45.00 target price on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Nine investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of $45.00.
In other news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $31.98, for a total value of $32,299.80. Following the transaction, the director now owns 10,990 shares in the company, valued at approximately $351,460.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 28.20% of the stock is owned by corporate insiders.
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Sinclair Broadcast Group Company Profile
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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