Sinclair Broadcast Group, Inc. (SBGI) Rating Reiterated by Ameriprise Financial
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)‘s stock had its “buy” rating reaffirmed by research analysts at Ameriprise Financial in a research report issued to clients and investors on Friday. They currently have a $45.00 price target on the stock, up from their prior price target of $43.00. Ameriprise Financial’s price objective points to a potential upside of 50.00% from the stock’s current price.
SBGI has been the subject of several other reports. Deutsche Bank AG started coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They issued a “buy” rating and a $46.00 price objective for the company. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, October 4th. FBR & Co initiated coverage on Sinclair Broadcast Group in a research report on Tuesday. They issued a “buy” rating and a $43.00 target price for the company. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Benchmark Co. raised their target price on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Sinclair Broadcast Group currently has a consensus rating of “Buy” and a consensus target price of $44.82.
Sinclair Broadcast Group (NASDAQ:SBGI) traded down $1.05 during midday trading on Friday, reaching $30.00. 1,075,591 shares of the company’s stock traded hands, compared to its average volume of 1,395,516. The company has a debt-to-equity ratio of 3.46, a current ratio of 2.65 and a quick ratio of 2.65. The firm has a market capitalization of $3,147.72, a PE ratio of 12.93, a price-to-earnings-growth ratio of 7.54 and a beta of 1.92.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 24.41%. The business had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. During the same period in the prior year, the company posted $0.54 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. equities research analysts anticipate that Sinclair Broadcast Group will post 2.03 earnings per share for the current fiscal year.
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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the completion of the transaction, the director now directly owns 10,990 shares of the company’s stock, valued at $351,460.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SBGI. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sinclair Broadcast Group by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after acquiring an additional 273 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Sinclair Broadcast Group by 9.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after acquiring an additional 278 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group during the second quarter valued at $141,000. Teacher Retirement System of Texas increased its stake in shares of Sinclair Broadcast Group by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after buying an additional 164 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Sinclair Broadcast Group in the first quarter valued at $235,000. 81.27% of the stock is owned by institutional investors.
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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