Sinclair Broadcast Group Inc (NASDAQ:SBGI) has been given an average rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $38.13.
Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. ValuEngine upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday. Wolfe Research assumed coverage on Sinclair Broadcast Group in a report on Friday, December 7th. They issued an “underperform” rating for the company. Finally, B. Riley raised their price objective on Sinclair Broadcast Group from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 8th.
Shares of NASDAQ SBGI traded down $0.12 during mid-day trading on Tuesday, hitting $30.05. The company had a trading volume of 36,897 shares, compared to its average volume of 1,583,721. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.75 and a beta of 1.35. The company has a debt-to-equity ratio of 2.43, a current ratio of 2.98 and a quick ratio of 2.98. Sinclair Broadcast Group has a one year low of $25.13 and a one year high of $40.15.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The company had revenue of $766.30 million during the quarter, compared to analysts’ expectations of $752.56 million. Sinclair Broadcast Group had a return on equity of 19.79% and a net margin of 19.98%. Sinclair Broadcast Group’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. On average, sell-side analysts expect that Sinclair Broadcast Group will post 3.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Friday, November 30th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. This is a boost from Sinclair Broadcast Group’s previous quarterly dividend of $0.18. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 28.57%.
In related news, Director Lawrence E. Mccanna sold 5,000 shares of Sinclair Broadcast Group stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $31.68, for a total transaction of $158,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.24% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Cerebellum GP LLC grew its holdings in Sinclair Broadcast Group by 41.5% during the fourth quarter. Cerebellum GP LLC now owns 9,619 shares of the company’s stock worth $253,000 after purchasing an additional 2,823 shares during the period. Legal & General Group Plc lifted its position in Sinclair Broadcast Group by 2.9% during the third quarter. Legal & General Group Plc now owns 45,820 shares of the company’s stock worth $1,299,000 after acquiring an additional 1,300 shares during the last quarter. Vanguard Group Inc lifted its position in Sinclair Broadcast Group by 4.6% during the third quarter. Vanguard Group Inc now owns 7,225,931 shares of the company’s stock worth $204,855,000 after acquiring an additional 320,587 shares during the last quarter. Vanguard Group Inc. lifted its position in Sinclair Broadcast Group by 4.6% during the third quarter. Vanguard Group Inc. now owns 7,225,931 shares of the company’s stock worth $204,855,000 after acquiring an additional 320,587 shares during the last quarter. Finally, Morgan Stanley lifted its position in Sinclair Broadcast Group by 151.9% during the third quarter. Morgan Stanley now owns 517,445 shares of the company’s stock worth $14,671,000 after acquiring an additional 312,060 shares during the last quarter. Institutional investors and hedge funds own 67.45% 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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