Sinclair Broadcast Group (NASDAQ:SBGI) had its price objective hoisted by Benchmark from $45.00 to $90.00 in a report published on Tuesday morning, The Fly reports. They currently have a buy rating on the stock.
A number of other research analysts have also issued reports on the stock. Evercore ISI raised shares of Sinclair Broadcast Group from an in-line rating to an outperform rating and set a $61.00 target price for the company in a research note on Tuesday. B. Riley raised shares of Sinclair Broadcast Group from a neutral rating to a buy rating and boosted their target price for the company from $46.00 to $57.00 in a research note on Monday, May 6th. ValuEngine raised shares of Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Thursday, April 18th. Zacks Investment Research raised shares of Sinclair Broadcast Group from a hold rating to a buy rating and set a $49.00 target price for the company in a research note on Saturday, April 13th. Finally, BidaskClub raised shares of Sinclair Broadcast Group from a buy rating to a strong-buy rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Sinclair Broadcast Group presently has an average rating of Buy and a consensus price target of $48.67.
NASDAQ SBGI opened at $61.81 on Tuesday. Sinclair Broadcast Group has a one year low of $25.13 and a one year high of $66.57. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $5.59 billion, a PE ratio of 18.45 and a beta of 1.56.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.16). Sinclair Broadcast Group had a net margin of 10.28% and a return on equity of 20.22%. The business had revenue of $722.10 million during the quarter, compared to analyst estimates of $707.94 million. During the same period last year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts forecast that Sinclair Broadcast Group will post 2.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 23.88%.
In other Sinclair Broadcast Group news, Director Robert E. Smith sold 143,002 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $38.58, for a total transaction of $5,517,017.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman David B. Amy sold 22,032 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $38.38, for a total transaction of $845,588.16. The disclosure for this sale can be found here. Insiders have sold a total of 182,893 shares of company stock worth $6,987,659 over the last 90 days. 29.24% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new stake in shares of Sinclair Broadcast Group in the 1st quarter worth approximately $26,000. Legal & General Group Plc raised its holdings in shares of Sinclair Broadcast Group by 2.2% during the fourth quarter. Legal & General Group Plc now owns 46,818 shares of the company’s stock valued at $1,233,000 after acquiring an additional 998 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Sinclair Broadcast Group by 1.9% during the first quarter. BNP Paribas Arbitrage SA now owns 56,694 shares of the company’s stock valued at $2,182,000 after acquiring an additional 1,045 shares during the period. Xact Kapitalforvaltning AB raised its holdings in shares of Sinclair Broadcast Group by 10.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 12,667 shares of the company’s stock valued at $334,000 after acquiring an additional 1,200 shares during the period. Finally, Covington Capital Management acquired a new stake in shares of Sinclair Broadcast Group during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 65.20% of the company’s stock.
About Sinclair Broadcast Group
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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