Sinclair Broadcast Group (NASDAQ:SBGI) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other equities analysts also recently commented on SBGI. ValuEngine downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Wells Fargo & Company reissued an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Wednesday, October 4th. Deutsche Bank started coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They set a “buy” rating and a $46.00 price objective for the company. Finally, FBR & Co started coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They set a “buy” rating and a $43.00 price objective for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Sinclair Broadcast Group presently has a consensus rating of “Buy” and a consensus price target of $45.17.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) traded up $0.70 during trading on Thursday, hitting $37.35. The stock had a trading volume of 1,731,860 shares, compared to its average volume of 1,384,895. Sinclair Broadcast Group has a 1-year low of $26.70 and a 1-year high of $43.05. The firm has a market capitalization of $3,728.81, a P/E ratio of 15.46, a PEG ratio of 9.16 and a beta of 1.92. 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 (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The company had revenue of $670.90 million for the quarter, compared to analyst estimates of $671.42 million. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. analysts forecast that Sinclair Broadcast Group will post 2 EPS for the current year.

In related 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AXA acquired a new position in Sinclair Broadcast Group in the third quarter valued at approximately $8,399,000. Delphi Management Inc. MA boosted its holdings in Sinclair Broadcast Group by 8.6% in the third quarter. Delphi Management Inc. MA now owns 80,802 shares of the company’s stock valued at $2,590,000 after purchasing an additional 6,429 shares in the last quarter. FrontFour Capital Group LLC acquired a new position in Sinclair Broadcast Group in the third quarter valued at approximately $2,681,000. California Public Employees Retirement System lifted its stake in Sinclair Broadcast Group by 5.8% in the third quarter. California Public Employees Retirement System now owns 153,560 shares of the company’s stock valued at $4,922,000 after buying an additional 8,460 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Sinclair Broadcast Group by 76.3% in the third quarter. Point72 Asset Management L.P. now owns 282,100 shares of the company’s stock valued at $9,041,000 after buying an additional 122,100 shares during the last quarter. 84.80% of the stock is owned by hedge funds and other institutional investors.

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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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