Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)‘s stock had its “buy” rating reissued by equities research analysts at Ameriprise Financial in a report issued on Friday. They currently have a $45.00 target price on the stock, up from their prior target price of $43.00. Ameriprise Financial’s price objective would suggest a potential upside of 50.00% from the stock’s current price.
Several other equities analysts have also issued reports on the company. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Deutsche Bank AG started coverage on Sinclair Broadcast Group in a research note on Friday, October 20th. They issued a “buy” rating and a $46.00 target price on the stock. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Saturday, August 5th. Benchmark Co. lifted their target price on Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, FBR & Co started coverage on Sinclair Broadcast Group in a research note on Tuesday. They issued a “buy” rating and a $43.00 target price on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.82.
Shares of Sinclair Broadcast Group (NASDAQ SBGI) traded down $1.05 during trading on Friday, hitting $30.00. 1,075,591 shares of the company were exchanged, compared to its average volume of 1,395,516. The company has a quick ratio of 2.65, a current ratio of 2.65 and a debt-to-equity ratio of 3.46. The firm has a market cap of $3,147.72, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 7.54 and a beta of 1.92.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). The firm had revenue of $670.90 million during the quarter, compared to the consensus estimate of $671.42 million. Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 24.41%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. research analysts forecast that Sinclair Broadcast Group will post 2.03 EPS for the current year.
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In related news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the transaction, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 28.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after purchasing an additional 273 shares during the period. PNC Financial Services Group Inc. raised its position in Sinclair Broadcast Group by 9.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after purchasing an additional 278 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Sinclair Broadcast Group in the 2nd quarter valued at about $141,000. Teacher Retirement System of Texas raised its position in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock worth $202,000 after acquiring an additional 164 shares in the last quarter. Finally, New York State Teachers Retirement System acquired a new stake in shares of Sinclair Broadcast Group during the 1st quarter worth about $235,000. Institutional investors and hedge funds own 81.27% of the company’s stock.
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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