Wall Street analysts predict that Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) will announce sales of $734.43 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Sinclair Broadcast Group’s earnings. The lowest sales estimate is $728.00 million and the highest is $745.22 million. Sinclair Broadcast Group reported sales of $797.69 million during the same quarter last year, which would suggest a negative year over year growth rate of 7.9%. The business is expected to announce its next earnings results on Wednesday, February 28th.

On average, analysts expect that Sinclair Broadcast Group will report full-year sales of $734.43 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.76 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its 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). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million for the quarter, compared to analysts’ expectations of $671.42 million. During the same period last year, the firm earned $0.54 EPS. The company’s revenue was down 3.3% compared to the same quarter last year.

Several equities analysts have weighed in on the company. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating 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. B. Riley lifted their target price on Sinclair Broadcast Group from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, November 27th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $55.00 target price on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Finally, Ameriprise Financial reaffirmed a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Sinclair Broadcast Group has an average rating of “Buy” and a consensus target price of $44.91.

In related news, Director Howard E. Friedman sold 1,010 shares of the business’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 directly owns 10,990 shares in the company, valued at approximately $351,460.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 28.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SBGI. Bank of Montreal Can lifted its holdings in Sinclair Broadcast Group by 69.7% in the 2nd quarter. Bank of Montreal Can now owns 9,677 shares of the company’s stock worth $319,000 after purchasing an additional 3,974 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Sinclair Broadcast Group by 7.7% during the second quarter. Aperio Group LLC now owns 12,532 shares of the company’s stock worth $412,000 after buying an additional 900 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Sinclair Broadcast Group by 340.0% during the second quarter. Russell Investments Group Ltd. now owns 77,977 shares of the company’s stock worth $2,565,000 after buying an additional 60,253 shares during the last quarter. NGAM Advisors L.P. lifted its holdings in shares of Sinclair Broadcast Group by 5.0% during the second quarter. NGAM Advisors L.P. now owns 25,555 shares of the company’s stock worth $841,000 after buying an additional 1,221 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Sinclair Broadcast Group by 19.8% during the second quarter. Sei Investments Co. now owns 168,648 shares of the company’s stock worth $5,548,000 after buying an additional 27,850 shares during the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.

Sinclair Broadcast Group (NASDAQ SBGI) opened at $33.65 on Wednesday. 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 firm has a market capitalization of $3,449.02, a PE ratio of 14.30, a price-to-earnings-growth ratio of 8.48 and a beta of 1.92.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.14%. Sinclair Broadcast Group’s payout ratio is 27.07%.

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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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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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