Sinclair Broadcast Group Inc (SBGI) Receives Consensus Rating of “Buy” from Analysts

Sinclair Broadcast Group Inc (NASDAQ:SBGI) has been given a consensus rating of “Buy” by the thirteen analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $47.50.

A number of brokerages have recently weighed in on SBGI. Wells Fargo & Co reaffirmed an “outperform” rating and set a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. BidaskClub downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Ameriprise Financial reaffirmed a “buy” rating and set a $45.00 price target (up previously from $43.00) on shares of Sinclair Broadcast Group in a report on Friday, November 3rd. Finally, ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.

Shares of Sinclair Broadcast Group (NASDAQ SBGI) opened at $39.85 on Tuesday. Sinclair Broadcast Group has a twelve month low of $26.70 and a twelve month high of $43.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The stock has a market cap of $4,049.29, a PE ratio of 14.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.93.

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 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 firm had revenue of $670.90 million for the quarter, compared to the consensus estimate of $671.42 million. During the same period last year, the company posted $0.54 EPS. The business’s revenue was down 3.3% on a year-over-year basis. equities research analysts expect that Sinclair Broadcast Group will post 1.98 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Sinclair Broadcast Group by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,883,606 shares of the company’s stock worth $252,669,000 after purchasing an additional 132,422 shares in the last quarter. Vanguard Group Inc. increased its position in Sinclair Broadcast Group by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after purchasing an additional 520,001 shares in the last quarter. Principal Financial Group Inc. increased its position in Sinclair Broadcast Group by 15.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,729,416 shares of the company’s stock worth $151,576,000 after purchasing an additional 616,122 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Sinclair Broadcast Group by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock worth $66,615,000 after purchasing an additional 140,286 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Sinclair Broadcast Group by 10.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,515,177 shares of the company’s stock worth $49,849,000 after purchasing an additional 143,606 shares in the last quarter. Institutional investors and hedge funds own 84.86% of the company’s stock.

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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.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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