Sinclair Broadcast Group Inc (NASDAQ:SBGI) has been given a consensus recommendation of “Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $47.50.
SBGI has been the subject of a number of research reports. B. Riley upped their target price on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. FBR & Co initiated coverage on shares of Sinclair Broadcast Group in a research report on Tuesday, October 31st. They set a “buy” rating and a $43.00 price objective for the company. BidaskClub lowered shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Deutsche Bank initiated coverage on shares of Sinclair Broadcast Group in a research report on Friday, October 20th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a research report on Thursday, December 14th. They set a “buy” rating and a $48.00 price objective for the company.
Shares of Sinclair Broadcast Group (SBGI) traded up $0.15 during trading hours on Tuesday, hitting $39.35. 1,453,782 shares of the company were exchanged, compared to its average volume of 1,460,000. 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 12-month low of $26.70 and a 12-month high of $43.05. The company has a market capitalization of $4,020.00, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 2.14 and a beta of 1.93.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its 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 company had revenue of $670.90 million for the quarter, compared to the consensus estimate of $671.42 million. During the same quarter in the prior year, the company posted $0.54 EPS. Sinclair Broadcast Group’s revenue was down 3.3% compared to the same quarter last year. equities research analysts anticipate that Sinclair Broadcast Group will post 1.98 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Sinclair Broadcast Group by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after acquiring an additional 273 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Sinclair Broadcast Group in the 2nd quarter worth about $141,000. FNY Managed Accounts LLC bought a new stake in shares of Sinclair Broadcast Group in the 3rd quarter worth about $153,000. Cheyne Capital Management UK LLP bought a new stake in shares of Sinclair Broadcast Group in the 3rd quarter worth about $170,000. Finally, Rational Advisors LLC bought a new stake in shares of Sinclair Broadcast Group in the 3rd quarter worth about $234,000. Hedge funds and other institutional investors 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.
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