Wall Street brokerages forecast that Sinclair Broadcast Group Inc (NASDAQ:SBGI) will post earnings per share of $0.73 for the current quarter, according to Zacks. Four analysts have made estimates for Sinclair Broadcast Group’s earnings. The highest EPS estimate is $1.05 and the lowest is $0.08. Sinclair Broadcast Group posted earnings per share of $0.32 in the same quarter last year, which suggests a positive year-over-year growth rate of 128.1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, May 9th.
On average, analysts expect that Sinclair Broadcast Group will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.04 to $4.24. For the next financial year, analysts expect that the firm will report earnings of $2.75 per share, with EPS estimates ranging from $2.06 to $3.07. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Sinclair Broadcast Group.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $1.07. Sinclair Broadcast Group had a return on equity of 22.76% and a net margin of 21.07%. The firm had revenue of $734.00 million for the quarter, compared to the consensus estimate of $733.41 million. During the same period in the prior year, the business posted $1.32 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis.
Several brokerages have recently weighed in on SBGI. BidaskClub upgraded Sinclair Broadcast Group from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Benchmark reiterated a “buy” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Wednesday, February 21st. Royal Bank of Canada reiterated a “buy” rating and issued a $48.00 price target on shares of Sinclair Broadcast Group in a report on Thursday, January 4th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, B. Riley dropped their price objective on Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.64.
A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. New York State Common Retirement Fund boosted its position in Sinclair Broadcast Group by 3.9% during the 3rd quarter. New York State Common Retirement Fund now owns 331,886 shares of the company’s stock valued at $10,637,000 after acquiring an additional 12,463 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in Sinclair Broadcast Group by 41.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,988 shares of the company’s stock valued at $309,000 after acquiring an additional 2,941 shares in the last quarter. Legal & General Group Plc boosted its position in Sinclair Broadcast Group by 14.8% during the 3rd quarter. Legal & General Group Plc now owns 33,667 shares of the company’s stock valued at $1,077,000 after acquiring an additional 4,344 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sinclair Broadcast Group by 7.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock valued at $66,615,000 after acquiring an additional 140,286 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Sinclair Broadcast Group by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 153,560 shares of the company’s stock valued at $4,922,000 after acquiring an additional 8,460 shares in the last quarter. 87.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ SBGI traded up $1.25 during midday trading on Thursday, hitting $30.60. The company’s stock had a trading volume of 1,928,010 shares, compared to its average volume of 1,360,629. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.36 and a current ratio of 2.36. Sinclair Broadcast Group has a 12-month low of $26.70 and a 12-month high of $41.20. The company has a market cap of $2,976.16, a price-to-earnings ratio of 10.93, a PEG ratio of 1.42 and a beta of 1.64.
The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Shareholders of record on Friday, March 9th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 8th. This represents a $0.72 annualized dividend and a yield of 2.35%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 25.71%.
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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.
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