Sinclair Broadcast Group (NASDAQ:SBGI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, January 30th. Stephens set a $47.00 price target on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Tuesday, January 16th. Royal Bank of Canada restated a “buy” rating and issued a $48.00 price target on shares of Sinclair Broadcast Group in a research report on Thursday, January 4th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a research report on Thursday, December 14th. They issued a “buy” rating and a $48.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Sinclair Broadcast Group has an average rating of “Buy” and an average target price of $46.64.
Shares of SBGI stock opened at $31.50 on Wednesday. The company has a debt-to-equity ratio of 2.53, a current ratio of 2.36 and a quick ratio of 2.36. The company has a market cap of $3,276.32, a P/E ratio of 5.57, a P/E/G ratio of 1.50 and a beta of 1.83. Sinclair Broadcast Group has a 12-month low of $26.70 and a 12-month high of $41.20.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $1.07. The business had revenue of $734.00 million during the quarter, compared to the consensus estimate of $733.41 million. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 EPS. research analysts forecast that Sinclair Broadcast Group will post 3.66 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. grew its stake in Sinclair Broadcast Group by 102.2% in the 4th quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock valued at $124,000 after buying an additional 1,643 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in Sinclair Broadcast Group in the 3rd quarter valued at $153,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Sinclair Broadcast Group by 68.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,346 shares of the company’s stock valued at $171,000 after buying an additional 2,176 shares during the last quarter. Parametrica Management Ltd acquired a new position in Sinclair Broadcast Group in the 4th quarter valued at $207,000. Finally, Virtu Financial LLC acquired a new position in Sinclair Broadcast Group in the 4th quarter valued at $219,000. Institutional investors own 87.22% 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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