BidaskClub upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a sell rating to a hold rating in a report issued on Friday.
A number of other research firms have also weighed in on SBGI. ValuEngine upgraded shares of Sinclair Broadcast Group from a strong sell rating to a sell rating in a research note on Wednesday, August 15th. Stephens set a $35.00 price objective on shares of Sinclair Broadcast Group and gave the company a buy rating in a research note on Thursday, August 9th. TheStreet lowered shares of Sinclair Broadcast Group from a b- rating to a c+ rating in a research note on Monday, August 6th. Evercore ISI began coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, July 31st. They issued an in-line rating and a $34.00 price objective for the company. Finally, B. Riley lowered shares of Sinclair Broadcast Group from a buy rating to a neutral rating and reduced their price objective for the company from $36.00 to $33.00 in a research note on Thursday, September 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $40.17.
NASDAQ:SBGI opened at $29.40 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $2.90 billion, a P/E ratio of 10.24 and a beta of 1.39. Sinclair Broadcast Group has a 12 month low of $25.13 and a 12 month high of $40.15.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. The company had revenue of $730.10 million for the quarter, compared to analysts’ expectations of $715.55 million. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. Sinclair Broadcast Group’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, sell-side analysts expect that Sinclair Broadcast Group will post 2.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. Sinclair Broadcast Group’s dividend payout ratio is 25.71%.
A number of institutional investors have recently added to or reduced their stakes in SBGI. SG Americas Securities LLC purchased a new position in shares of Sinclair Broadcast Group during the 1st quarter valued at $151,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at $157,000. Clinton Group Inc. purchased a new position in shares of Sinclair Broadcast Group during the 1st quarter valued at $211,000. Hikari Power Ltd purchased a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at $279,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at $322,000. Institutional investors and hedge funds own 78.03% of the company’s stock.
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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