Stock analysts at Cannonball Research initiated coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a note issued to investors on Monday, TipRanks reports. The firm set a “hold” rating and a $44.00 price target on the stock. Cannonball Research’s price target suggests a potential downside of 1.21% from the stock’s current price.
Several other research analysts have also recently commented on the company. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley lowered their price target on shares of Sinclair Broadcast Group from $70.00 to $61.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Benchmark restated a “buy” rating and issued a $80.00 price objective (down previously from $90.00) on shares of Sinclair Broadcast Group in a research note on Thursday, August 8th. Evercore ISI set a $50.00 price objective on shares of Sinclair Broadcast Group and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $54.50.
Sinclair Broadcast Group stock traded down $0.04 during trading hours on Monday, hitting $44.54. The stock had a trading volume of 519,642 shares, compared to its average volume of 1,315,778. The company has a 50-day moving average of $46.30 and a two-hundred day moving average of $47.83. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 2.59. The company has a market cap of $3.99 billion, a PE ratio of 13.30 and a beta of 1.22. Sinclair Broadcast Group has a fifty-two week low of $25.14 and a fifty-two week high of $66.57.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.04. The company had revenue of $771.00 million for the quarter, compared to analyst estimates of $764.48 million. Sinclair Broadcast Group had a return on equity of 23.05% and a net margin of 10.60%. Sinclair Broadcast Group’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. As a group, analysts forecast that Sinclair Broadcast Group will post 2.47 EPS for the current fiscal year.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $53.16, for a total transaction of $106,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David D. Smith purchased 395,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were purchased at an average cost of $55.10 per share, with a total value of $21,764,500.00. The disclosure for this purchase can be found here. 32.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Sinclair Broadcast Group by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,181,634 shares of the company’s stock worth $83,805,000 after purchasing an additional 27,711 shares during the last quarter. Geode Capital Management LLC lifted its position in Sinclair Broadcast Group by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 819,238 shares of the company’s stock worth $21,578,000 after buying an additional 47,414 shares in the last quarter. Rhumbline Advisers lifted its position in Sinclair Broadcast Group by 1.3% during the 1st quarter. Rhumbline Advisers now owns 104,873 shares of the company’s stock worth $4,036,000 after buying an additional 1,382 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Sinclair Broadcast Group by 10.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 47,848 shares of the company’s stock worth $1,841,000 after acquiring an additional 4,631 shares during the last quarter. Finally, California Public Employees Retirement System grew its holdings in Sinclair Broadcast Group by 4.6% during the 1st quarter. California Public Employees Retirement System now owns 163,610 shares of the company’s stock worth $6,296,000 after acquiring an additional 7,234 shares during the last quarter. Hedge funds and other institutional investors own 64.76% 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, sales, and other non-programming operating 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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