ValuEngine lowered shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) from a buy rating to a hold rating in a research note published on Monday, September 11th.
SBGI has been the subject of several other reports. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a sell rating to a hold rating in a research report on Wednesday, June 14th. Royal Bank Of Canada reissued a buy rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Benchmark Co. boosted their target price on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a buy rating in a report on Tuesday, August 1st. Finally, Stephens set a $46.00 price target on shares of Sinclair Broadcast Group and gave the stock a buy rating in a research note on Saturday, June 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of Buy and a consensus price target of $43.50.
Sinclair Broadcast Group (NASDAQ SBGI) traded up 1.670% on Monday, hitting $28.925. 245,113 shares of the stock traded hands. The stock has a 50 day moving average of $30.13 and a 200 day moving average of $34.90. Sinclair Broadcast Group has a 52 week low of $24.15 and a 52 week high of $43.05. The firm has a market capitalization of $2.97 billion, a PE ratio of 10.142 and a beta of 1.80.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The company had revenue of $679.30 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.52 earnings per share. Equities research analysts anticipate that Sinclair Broadcast Group will post $2.01 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.51%. Sinclair Broadcast Group’s payout ratio is 24.83%.
Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. Strs Ohio boosted its position in shares of Sinclair Broadcast Group by 266.7% during the 1st quarter. Strs Ohio now owns 7,700 shares of the company’s stock valued at $311,000 after acquiring an additional 5,600 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Sinclair Broadcast Group in the first quarter worth $718,000. Wells Fargo & Company MN increased its stake in shares of Sinclair Broadcast Group by 3.4% during the first quarter. Wells Fargo & Company MN now owns 120,546 shares of the company’s stock valued at $4,883,000 after buying an additional 3,995 shares during the period. LSV Asset Management increased its stake in shares of Sinclair Broadcast Group by 1,504.8% during the first quarter. LSV Asset Management now owns 70,609 shares of the company’s stock valued at $2,859,000 after buying an additional 66,209 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Sinclair Broadcast Group by 13.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 46,680 shares of the company’s stock valued at $1,891,000 after buying an additional 5,414 shares during the period. Hedge funds and other institutional investors own 80.87% of the company’s stock.
Sinclair Broadcast Group Company Profile
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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