Sinclair Broadcast Group, Inc. Declares Quarterly Dividend of $0.18 (SBGI)
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, November 1st, Zacks reports. Shareholders of record on Friday, December 1st will be paid a dividend of 0.18 per share on Friday, December 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, November 30th.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The business had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the previous year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year.
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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the sale, the director now owns 10,990 shares of the company’s stock, valued at $351,460.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.20% of the stock is owned by corporate insiders.
Several research analysts have recently commented on SBGI shares. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. Benchmark Co. boosted their price objective on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Saturday, August 5th. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Eleven analysts have rated the stock with a buy rating, Sinclair Broadcast Group presently has an average rating of “Buy” and an average target price of $44.80.
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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