Shares of Sinclair Broadcast Group Inc (NASDAQ:SBGI) have earned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $56.33.
A number of analysts have recently issued reports on SBGI shares. BidaskClub lowered Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $80.00 price objective (down previously from $90.00) on shares of Sinclair Broadcast Group in a research note on Thursday, August 8th. Zacks Investment Research upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Cannonball Research assumed coverage on Sinclair Broadcast Group in a research report on Monday, September 9th. They issued a “hold” rating and a $44.00 target price on the stock. Finally, Stephens reduced their target price on Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. They noted that the move was a valuation call.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Sinclair Broadcast Group by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,974,138 shares of the company’s stock worth $374,023,000 after acquiring an additional 174,531 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Sinclair Broadcast Group by 33.3% in the 2nd quarter. Renaissance Technologies LLC now owns 4,291,227 shares of the company’s stock worth $230,139,000 after buying an additional 1,072,664 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sinclair Broadcast Group by 118.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,797,608 shares of the company’s stock worth $148,832,000 after buying an additional 1,517,108 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Sinclair Broadcast Group by 92.8% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,353,855 shares of the company’s stock valued at $57,863,000 after buying an additional 651,644 shares during the period. Finally, Raging Capital Management LLC grew its position in shares of Sinclair Broadcast Group by 57.1% during the 3rd quarter. Raging Capital Management LLC now owns 1,185,135 shares of the company’s stock valued at $50,653,000 after buying an additional 430,874 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.
Shares of SBGI traded down $0.65 during midday trading on Friday, reaching $33.46. 1,163,616 shares of the company were exchanged, compared to its average volume of 1,192,524. The stock has a 50-day moving average price of $38.78 and a 200-day moving average price of $46.78. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 9.99 and a beta of 1.10. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 7.53. Sinclair Broadcast Group has a 1-year low of $25.14 and a 1-year high of $66.57.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.98). Sinclair Broadcast Group had a net margin of 5.99% and a return on equity of 25.47%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company posted $0.62 earnings per share. Sinclair Broadcast Group’s revenue for the quarter was up 46.9% compared to the same quarter last year. Equities research analysts anticipate that Sinclair Broadcast Group will post 2.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, November 27th. Sinclair Broadcast Group’s dividend payout ratio is currently 23.88%.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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