B. Riley Analysts Increase Earnings Estimates for Sinclair Broadcast Group, Inc. (SBGI)

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) – Equities researchers at B. Riley boosted their FY2018 EPS estimates for shares of Sinclair Broadcast Group in a report released on Tuesday. B. Riley analyst B. Crockett now forecasts that the company will post earnings per share of $3.39 for the year, up from their previous estimate of $2.95. B. Riley has a “Buy” rating and a $46.00 price target on the stock.

Several other equities research analysts have also recently issued reports on SBGI. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Stephens set a $47.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and set a $48.00 price objective on shares of Sinclair Broadcast Group in a research report on Thursday, January 4th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $45.50.

Sinclair Broadcast Group (NASDAQ SBGI) traded up $0.25 during trading on Thursday, hitting $39.40. 401,454 shares of the stock traded hands, compared to its average volume of 2,079,255. The stock has a market cap of $3,990.00, a PE ratio of 14.81, a P/E/G ratio of 2.20 and a beta of 1.93. Sinclair Broadcast Group has a 1-year low of $26.70 and a 1-year high of $43.05. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). The business had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS.

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. Prudential Financial Inc. lifted its position in Sinclair Broadcast Group by 436.6% in the third quarter. Prudential Financial Inc. now owns 1,154,448 shares of the company’s stock valued at $37,001,000 after acquiring an additional 939,289 shares during the last quarter. Royal Bank of Canada lifted its position in Sinclair Broadcast Group by 4,036.0% in the second quarter. Royal Bank of Canada now owns 830,350 shares of the company’s stock valued at $27,317,000 after acquiring an additional 810,274 shares during the last quarter. Nordea Investment Management AB purchased a new stake in Sinclair Broadcast Group in the second quarter valued at $26,002,000. Russell Investments Group Ltd. lifted its position in Sinclair Broadcast Group by 980.0% in the third quarter. Russell Investments Group Ltd. now owns 842,172 shares of the company’s stock valued at $26,992,000 after acquiring an additional 764,195 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Sinclair Broadcast Group by 15.0% in the third quarter. Principal Financial Group Inc. now owns 4,729,416 shares of the company’s stock valued at $151,576,000 after acquiring an additional 616,122 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

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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.

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

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