Sinclair Broadcast Group (SBGI) Coverage Initiated by Analysts at Jefferies Group

Stock analysts at Jefferies Group started coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $48.00 price target on the stock. Jefferies Group’s target price suggests a potential upside of 30.97% from the company’s previous close.

A number of other equities analysts have also issued reports on SBGI. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Wells Fargo & Company reissued an “outperform” rating and issued a $55.00 price objective on shares of Sinclair Broadcast Group in a 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 report on Wednesday, October 4th. Deutsche Bank initiated coverage on Sinclair Broadcast Group in a report on Friday, October 20th. They issued a “buy” rating and a $46.00 price objective for the company. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $45.17.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) traded up $0.25 during mid-day trading on Thursday, reaching $36.65. The company had a trading volume of 1,759,843 shares, compared to its average volume of 1,701,665. Sinclair Broadcast Group has a 1-year low of $26.70 and a 1-year high of $43.05. The company has a market cap of $3,760.00, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 9.02 and a beta of 1.92. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. During the same period last year, the company earned $0.54 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. sell-side analysts forecast that Sinclair Broadcast Group will post 2 EPS for the current fiscal year.

In other Sinclair Broadcast Group 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 sale, the director now directly owns 10,990 shares in the company, valued at $351,460.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.20% of the company’s stock.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Sinclair Broadcast Group by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock valued at $217,820,000 after acquiring an additional 520,001 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Sinclair Broadcast Group by 40.9% during the 3rd quarter. Alps Advisors Inc. now owns 16,392 shares of the company’s stock valued at $525,000 after acquiring an additional 4,756 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Sinclair Broadcast Group by 3.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 238,750 shares of the company’s stock valued at $7,652,000 after acquiring an additional 8,350 shares during the last quarter. Pax World Management LLC lifted its position in shares of Sinclair Broadcast Group by 33.4% during the 3rd quarter. Pax World Management LLC now owns 599,022 shares of the company’s stock valued at $19,199,000 after acquiring an additional 150,000 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Sinclair Broadcast Group by 74.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,582 shares of the company’s stock valued at $29,959,000 after acquiring an additional 388,636 shares during the last quarter. Institutional investors own 84.80% of the company’s stock.

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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.