Sinclair Broadcast Group Inc Declares Quarterly Dividend of $0.18 (SBGI)

Sinclair Broadcast Group Inc (NASDAQ:SBGI) declared a quarterly dividend on Thursday, March 1st, Wall Street Journal reports. Stockholders of record on Friday, March 9th will be given a dividend of 0.18 per share on Friday, March 23rd. This represents a $0.72 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, March 8th.

Shares of NASDAQ:SBGI remained flat at $$31.30 on Thursday. 898,966 shares of the stock traded hands, compared to its average volume of 1,390,855. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $41.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.36 and a current ratio of 2.36. The company has a market cap of $3,235.62, a P/E ratio of 5.53, a price-to-earnings-growth ratio of 1.52 and a beta of 1.83.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $1.07. The company had revenue of $734.00 million for the quarter, compared to the consensus estimate of $733.41 million. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.32 EPS. research analysts forecast that Sinclair Broadcast Group will post 3.58 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Stephens set a $47.00 price target on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $48.00 price target on shares of Sinclair Broadcast Group in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.64.

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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.

Dividend History for Sinclair Broadcast Group (NASDAQ:SBGI)

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