Zacks: Analysts Expect Sinclair Broadcast Group, Inc. (SBGI) to Post $0.40 Earnings Per Share

Analysts expect Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to post $0.40 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sinclair Broadcast Group’s earnings, with estimates ranging from $0.37 to $0.42. Sinclair Broadcast Group reported earnings per share of $0.70 during the same quarter last year, which would indicate a negative year-over-year growth rate of 42.9%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.

On average, analysts expect that Sinclair Broadcast Group will report full year earnings of $1.95 per share for the current fiscal year, with EPS estimates ranging from $1.86 to $2.04. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.22 per share, with EPS estimates ranging from $2.98 to $3.48. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $679.30 million for the quarter, compared to analyst estimates of $678.23 million. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 earnings per share.

A number of research firms recently weighed in on SBGI. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. Benchmark Co. increased their price target on shares of Sinclair Broadcast Group from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, May 4th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research note on Saturday, June 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.50.

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In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total value of $69,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SBGI. UBS Oconnor LLC bought a new stake in shares of Sinclair Broadcast Group during the first quarter valued at about $14,796,000. Vanguard Group Inc. raised its stake in shares of Sinclair Broadcast Group by 23.3% in the first quarter. Vanguard Group Inc. now owns 6,100,685 shares of the company’s stock valued at $247,078,000 after buying an additional 1,152,147 shares during the period. Renaissance Technologies LLC raised its stake in shares of Sinclair Broadcast Group by 4,601.8% in the first quarter. Renaissance Technologies LLC now owns 1,371,571 shares of the company’s stock valued at $55,549,000 after buying an additional 1,342,400 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Sinclair Broadcast Group by 12.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 521,946 shares of the company’s stock valued at $21,139,000 after buying an additional 59,777 shares during the period. Finally, Teachers Advisors LLC raised its stake in shares of Sinclair Broadcast Group by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 132,783 shares of the company’s stock valued at $4,428,000 after buying an additional 1,582 shares during the period. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sinclair Broadcast Group (NASDAQ SBGI) opened at 31.35 on Friday. The company has a 50 day moving average of $33.52 and a 200 day moving average of $36.18. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 10.99 and a beta of 1.79. Sinclair Broadcast Group has a 1-year low of $24.15 and a 1-year high of $43.05.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio is presently 24.83%.

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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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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