Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGIGet Rating) have been given a consensus recommendation of “Hold” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $29.75.

A number of brokerages have issued reports on SBGI. Rosenblatt Securities began coverage on Sinclair Broadcast Group in a research note on Tuesday, April 19th. They issued a “neutral” rating and a $21.00 target price for the company. Benchmark cut their target price on Sinclair Broadcast Group from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Wells Fargo & Company raised Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $33.00 in a research note on Thursday. Zacks Investment Research raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Saturday, April 9th. Finally, StockNews.com started coverage on Sinclair Broadcast Group in a research report on Thursday, March 31st. They set a “hold” rating for the company.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in Sinclair Broadcast Group by 65.1% during the fourth quarter. Signaturefd LLC now owns 1,106 shares of the company’s stock worth $29,000 after purchasing an additional 436 shares during the last quarter. Eagle Bay Advisors LLC increased its holdings in shares of Sinclair Broadcast Group by 108.0% in the third quarter. Eagle Bay Advisors LLC now owns 1,040 shares of the company’s stock valued at $32,000 after purchasing an additional 540 shares during the period. Wilen Investment Management CORP. acquired a new position in shares of Sinclair Broadcast Group in the third quarter valued at approximately $37,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Sinclair Broadcast Group by 44.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,940 shares of the company’s stock valued at $51,000 after purchasing an additional 600 shares during the period. Finally, Cornerstone Advisory LLC acquired a new position in shares of Sinclair Broadcast Group in the fourth quarter valued at approximately $87,000.

Shares of SBGI stock opened at $24.15 on Thursday. The stock’s fifty day moving average is $25.98 and its two-hundred day moving average is $26.53. The firm has a market capitalization of $1.73 billion, a P/E ratio of -4.39 and a beta of 1.33. Sinclair Broadcast Group has a fifty-two week low of $22.07 and a fifty-two week high of $35.69.

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $35.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $36.41. Sinclair Broadcast Group had a negative return on equity of 16.74% and a negative net margin of 6.75%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $0.18 EPS. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. As a group, equities research analysts predict that Sinclair Broadcast Group will post -2.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.14%. The ex-dividend date is Tuesday, May 31st. Sinclair Broadcast Group’s dividend payout ratio is currently -18.18%.

Sinclair Broadcast Group Company Profile (Get Rating)

Sinclair Broadcast Group, Inc operates as a media company in the United States. The company operates in two segments, Broadcast and Local Sports. The Broadcast segment 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 programming to television viewing audiences in the communities through its local television stations.

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