Wall Street brokerages predict that Sinclair Broadcast Group Inc (NASDAQ:SBGI) will announce earnings per share (EPS) of $1.64 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Sinclair Broadcast Group’s earnings, with estimates ranging from $1.01 to $1.99. Sinclair Broadcast Group reported earnings per share of $1.67 during the same quarter last year, which would suggest a negative year over year growth rate of 1.8%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that Sinclair Broadcast Group will report full year earnings of $2.82 per share for the current financial year, with EPS estimates ranging from $2.11 to $3.28. For the next financial year, analysts forecast that the business will report earnings of $2.37 per share, with EPS estimates ranging from $1.75 to $3.13. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Sinclair Broadcast Group.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Sinclair Broadcast Group had a return on equity of 19.79% and a net margin of 19.98%. The firm had revenue of $766.30 million during the quarter, compared to analysts’ expectations of $752.56 million. During the same period in the previous year, the business earned $0.30 earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis.
In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $31.68, for a total value of $158,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 29.24% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Sinclair Broadcast Group in the 2nd quarter valued at $157,000. Exane Derivatives purchased a new stake in Sinclair Broadcast Group in the 3rd quarter valued at $159,000. Cerebellum GP LLC acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at $193,000. PNC Financial Services Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 114.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,419 shares of the company’s stock valued at $211,000 after purchasing an additional 3,959 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Sinclair Broadcast Group in the 3rd quarter valued at $221,000. Institutional investors own 70.79% of the company’s stock.
Shares of SBGI traded up $0.21 during trading hours on Friday, hitting $31.45. 1,220,943 shares of the stock were exchanged, compared to its average volume of 1,225,061. The company has a debt-to-equity ratio of 2.43, a quick ratio of 2.98 and a current ratio of 2.98. Sinclair Broadcast Group has a 12-month low of $25.13 and a 12-month high of $40.15. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.23 and a beta of 1.28.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be issued a $0.20 dividend. This is a boost from Sinclair Broadcast Group’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, November 29th. Sinclair Broadcast Group’s dividend payout ratio is presently 28.57%.
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, 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.
Featured Article: How to Use the New Google Finance Tool
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.