Sinclair Broadcast Group (NASDAQ:SBGI) had its target price cut by Royal Bank of Canada to $38.00 in a research report sent to investors on Monday morning. They currently have an outperform rating on the stock.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised Sinclair Broadcast Group from a hold rating to a buy rating and set a $44.00 target price for the company in a research note on Tuesday, January 30th. Stephens set a $47.00 target price on Sinclair Broadcast Group and gave the company a buy rating in a research note on Tuesday, January 16th. ValuEngine raised Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Friday, March 2nd. B. Riley decreased their target price on Sinclair Broadcast Group from $53.00 to $49.00 and set a buy rating for the company in a research note on Thursday, March 1st. Finally, Benchmark reaffirmed a buy rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has a consensus rating of Buy and an average target price of $46.30.
Sinclair Broadcast Group opened at $30.20 on Monday, MarketBeat.com reports. Sinclair Broadcast Group has a 1 year low of $30.05 and a 1 year high of $30.65. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 4.53 and a beta of 1.60.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $1.07. Sinclair Broadcast Group had a return on equity of 22.02% and a net margin of 20.44%. The firm had revenue of $734.00 million during the quarter, compared to analysts’ expectations of $733.41 million. During the same period in the previous year, the firm earned $1.32 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. equities research analysts anticipate that Sinclair Broadcast Group will post 3.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. Sinclair Broadcast Group’s dividend payout ratio is currently 25.71%.
Hedge funds have recently bought and sold shares of the company. Ellington Management Group LLC boosted its position in shares of Sinclair Broadcast Group by 55.6% during the fourth quarter. Ellington Management Group LLC now owns 9,800 shares of the company’s stock worth $371,000 after buying an additional 3,500 shares during the period. Caxton Associates LP acquired a new position in shares of Sinclair Broadcast Group during the fourth quarter worth about $2,839,000. Billings Capital Management LLC boosted its position in shares of Sinclair Broadcast Group by 475.6% during the fourth quarter. Billings Capital Management LLC now owns 289,475 shares of the company’s stock worth $10,957,000 after buying an additional 239,184 shares during the period. BancorpSouth Bank acquired a new position in shares of Sinclair Broadcast Group during the fourth quarter worth about $581,000. Finally, Wells Fargo & Company MN boosted its position in shares of Sinclair Broadcast Group by 64.6% during the fourth quarter. Wells Fargo & Company MN now owns 342,406 shares of the company’s stock worth $12,960,000 after buying an additional 134,422 shares during the period. 87.01% of the stock is owned by institutional investors.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales 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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