Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Saturday.

According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “

A number of other research analysts have also recently weighed in on SBGI. ValuEngine cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Saturday. B. Riley upped their price target on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Wells Fargo & Company restated an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. FBR & Co started coverage on shares of Sinclair Broadcast Group in a report on Tuesday. They issued a “buy” rating and a $43.00 price target on the stock. Finally, Benchmark Co. upped their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $44.80.

Shares of Sinclair Broadcast Group (SBGI) opened at $30.00 on Friday. The company has a current ratio of 2.65, a quick ratio of 2.65 and a debt-to-equity ratio of 3.46. The stock has a market capitalization of $3,147.72, a price-to-earnings 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 Zacks’ 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 firm had revenue of $670.90 million for the quarter, compared to the consensus estimate of $671.42 million. During the same quarter last year, the firm earned $0.54 EPS. The company’s revenue was down 3.3% on a year-over-year basis. equities analysts forecast that Sinclair Broadcast Group will post 2.03 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Lowers Sinclair Broadcast Group, Inc. (SBGI) to Hold” was posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.americanbankingnews.com/2017/11/04/zacks-investment-research-lowers-sinclair-broadcast-group-inc-sbgi-to-hold.html.

In related news, Director Howard E. Friedman sold 1,010 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were 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 directly owns 10,990 shares of the company’s stock, valued at $351,460.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 28.20% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Sinclair Broadcast Group by 18,421.8% during the first quarter. BlackRock Inc. now owns 4,884,950 shares of the company’s stock valued at $197,842,000 after buying an additional 4,858,576 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Sinclair Broadcast Group by 201.3% during the second quarter. Principal Financial Group Inc. now owns 4,113,294 shares of the company’s stock valued at $135,326,000 after buying an additional 2,748,201 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Sinclair Broadcast Group by 30.0% during the second quarter. Bank of New York Mellon Corp now owns 7,751,184 shares of the company’s stock valued at $255,014,000 after buying an additional 1,789,969 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Sinclair Broadcast Group by 23.3% during the first quarter. Vanguard Group Inc. now owns 6,100,685 shares of the company’s stock valued at $247,078,000 after buying an additional 1,152,147 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Sinclair Broadcast Group by 436.6% during the third quarter. Prudential Financial Inc. now owns 1,154,448 shares of the company’s stock valued at $37,001,000 after buying an additional 939,289 shares during the last quarter. 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.

Get a free copy of the Zacks research report on Sinclair Broadcast Group (SBGI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

Receive News & Ratings for Sinclair Broadcast Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.