Recent Research Analysts’ Ratings Changes for Sinclair Broadcast Group (SBGI)

Sinclair Broadcast Group (NASDAQ: SBGI) has recently received a number of price target changes and ratings updates:

  • 5/23/2022 – Sinclair Broadcast Group had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $31.00 to $28.00.
  • 5/10/2022 – Sinclair Broadcast Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 5/6/2022 – Sinclair Broadcast Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 5/5/2022 – Sinclair Broadcast Group was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $33.00 price target on the stock, up previously from $30.00.
  • 4/19/2022 – Sinclair Broadcast Group is now covered by analysts at Rosenblatt Securities. They set a “neutral” rating and a $21.00 price target on the stock.
  • 4/9/2022 – Sinclair Broadcast Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 3/31/2022 – Sinclair Broadcast Group is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/30/2022 – Sinclair Broadcast Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “

NASDAQ SBGI opened at $21.86 on Wednesday. The company has a debt-to-equity ratio of 6.20, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market capitalization of $1.57 billion, a PE ratio of 0.73 and a beta of 1.33. Sinclair Broadcast Group, Inc. has a 12 month low of $21.81 and a 12 month high of $35.69. The company’s 50 day simple moving average is $25.00 and its 200 day simple moving average is $26.21.

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.66) by $2.03. Sinclair Broadcast Group had a net margin of 36.97% and a negative return on equity of 16.74%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The business’s revenue was down 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Sinclair Broadcast Group, Inc. will post -2.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Tuesday, May 31st. Sinclair Broadcast Group’s dividend payout ratio is presently 3.33%.

Hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. acquired a new stake in Sinclair Broadcast Group during the 1st quarter worth approximately $200,000. Morgan Stanley raised its holdings in Sinclair Broadcast Group by 111.0% during the 2nd quarter. Morgan Stanley now owns 1,099,904 shares of the company’s stock valued at $36,540,000 after acquiring an additional 578,684 shares during the period. Deutsche Bank AG grew its position in shares of Sinclair Broadcast Group by 1.9% during the 3rd quarter. Deutsche Bank AG now owns 30,042 shares of the company’s stock valued at $951,000 after purchasing an additional 551 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Sinclair Broadcast Group by 50.1% in the third quarter. Advisor Group Holdings Inc. now owns 5,798 shares of the company’s stock worth $184,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Sinclair Broadcast Group by 29.6% during the third quarter. Russell Investments Group Ltd. now owns 56,661 shares of the company’s stock valued at $1,794,000 after acquiring an additional 12,955 shares during the last quarter.

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.

Featured Stories

Receive News & Ratings for Sinclair Broadcast Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.