Sinclair Broadcast Group, Inc. (SBGI) Given Average Rating of “Buy” by Analysts

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) has been assigned an average rating of “Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $47.00.

Several brokerages recently weighed in on SBGI. B. Riley upped their price target on Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. FBR & Co began coverage on Sinclair Broadcast Group in a research note on Tuesday, October 31st. They issued a “buy” rating and a $43.00 price target on the stock. Finally, ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd.

Sinclair Broadcast Group (NASDAQ:SBGI) opened at $33.90 on Monday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.74 and a current ratio of 1.74. Sinclair Broadcast Group has a 12 month low of $26.70 and a 12 month high of $43.05. The stock has a market capitalization of $3,449.02, a P/E ratio of 14.30, a PEG ratio of 8.48 and a beta of 1.92.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). The firm had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. Sinclair Broadcast Group’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. sell-side analysts anticipate that Sinclair Broadcast Group will post 2 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 27.07%.

In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the business’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 28.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in 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 purchasing an additional 273 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group during the second quarter valued at $141,000. FNY Managed Accounts LLC bought a new position in shares of Sinclair Broadcast Group during the third quarter valued at $153,000. Teacher Retirement System of Texas lifted its holdings in shares of Sinclair Broadcast Group by 2.7% during the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares in the last quarter. Finally, Rational Advisors LLC bought a new position in shares of Sinclair Broadcast Group during the third quarter valued at $234,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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