Sinclair Broadcast Group Inc (SBGI) Expected to Post Quarterly Sales of $734.67 Million

Analysts expect Sinclair Broadcast Group Inc (NASDAQ:SBGI) to report sales of $734.67 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Sinclair Broadcast Group’s earnings, with the highest sales estimate coming in at $745.22 million and the lowest estimate coming in at $728.00 million. Sinclair Broadcast Group reported sales of $797.69 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, February 28th.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full year sales of $734.67 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.76 billion. For the next financial year, analysts expect that the company will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Sinclair Broadcast Group.

A number of research firms have recently issued reports on SBGI. Stephens set a $47.00 target price on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, January 30th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. BidaskClub upgraded shares of Sinclair Broadcast Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Jefferies Group began coverage on shares of Sinclair Broadcast Group in a research note on Thursday, December 14th. They issued a “buy” rating and a $48.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $46.00.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Sinclair Broadcast Group by 8.5% in 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 during the last quarter. Alps Advisors Inc. raised its position in Sinclair Broadcast Group by 40.9% in the 3rd quarter. Alps Advisors Inc. now owns 16,392 shares of the company’s stock worth $525,000 after purchasing an additional 4,756 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Sinclair Broadcast Group by 3.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 238,750 shares of the company’s stock worth $7,652,000 after purchasing an additional 8,350 shares during the last quarter. Pax World Management LLC raised its position in Sinclair Broadcast Group by 33.4% in the 3rd quarter. Pax World Management LLC now owns 599,022 shares of the company’s stock worth $19,199,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Sinclair Broadcast Group by 436.6% in the 3rd quarter. Prudential Financial Inc. now owns 1,154,448 shares of the company’s stock worth $37,001,000 after purchasing an additional 939,289 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.

Sinclair Broadcast Group (NASDAQ:SBGI) opened at $34.95 on Monday. Sinclair Broadcast Group has a one year low of $26.70 and a one year 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 $3,560.00, a P/E ratio of 13.14, a PEG ratio of 1.91 and a beta of 1.80.

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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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