Sinclair Broadcast Group (NASDAQ:SBGI) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a buy rating to a strong-buy rating in a research note published on Friday, December 22nd.

A number of other research analysts have also issued reports on the company. ValuEngine lowered Sinclair Broadcast Group from a buy rating to a hold rating in a research report on Monday, September 11th. FBR & Co began coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They set a buy rating and a $43.00 price target for the company. Deutsche Bank began coverage on Sinclair Broadcast Group in a research report on Friday, October 20th. They set a buy rating and a $46.00 price target for the company. B. Riley boosted their price target on Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a buy rating in a research report on Monday, November 27th. Finally, Zacks Investment Research downgraded Sinclair Broadcast Group from a buy rating to a hold rating in a research note on Saturday, November 4th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Sinclair Broadcast Group has an average rating of Buy and a consensus price target of $45.42.

Shares of Sinclair Broadcast Group (SBGI) traded down $0.35 on Friday, hitting $39.05. The stock had a trading volume of 1,130,000 shares, compared to its average volume of 1,650,000. The firm has a market cap of $3,970.00, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 2.20 and a beta of 1.93. 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 has a one year low of $26.70 and a one year high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the 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 during the quarter, compared to analyst estimates of $671.42 million. During the same quarter in the previous year, the business posted $0.54 EPS. Sinclair Broadcast Group’s revenue was down 3.3% compared to the same quarter last year. sell-side analysts forecast that Sinclair Broadcast Group will post 1.98 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 27.07%.

Several hedge funds have recently modified their holdings of SBGI. Bank of Montreal Can grew its holdings in shares of Sinclair Broadcast Group by 69.7% during the second quarter. Bank of Montreal Can now owns 9,677 shares of the company’s stock valued at $319,000 after buying an additional 3,974 shares in the last quarter. Aperio Group LLC grew its holdings in shares of Sinclair Broadcast Group by 7.7% during the second quarter. Aperio Group LLC now owns 12,532 shares of the company’s stock valued at $412,000 after buying an additional 900 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Sinclair Broadcast Group by 340.0% during the second quarter. Russell Investments Group Ltd. now owns 77,977 shares of the company’s stock valued at $2,565,000 after buying an additional 60,253 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Sinclair Broadcast Group by 74.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 910,582 shares of the company’s stock valued at $29,959,000 after purchasing an additional 388,636 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Sinclair Broadcast Group by 16.7% in the second quarter. First Trust Advisors LP now owns 57,104 shares of the company’s stock valued at $1,879,000 after purchasing an additional 8,171 shares in the last quarter. Institutional investors and hedge funds own 84.76% 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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