Sinclair Broadcast Group (SBGI) Set to Announce Quarterly Earnings on Wednesday

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) will be issuing its quarterly earnings data before the market opens on Wednesday, August 3rd. Analysts expect the company to announce earnings of ($3.35) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.66) by $2.03. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was down 14.8% on a year-over-year basis. On average, analysts expect Sinclair Broadcast Group to post $0 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Sinclair Broadcast Group Stock Down 1.1 %

Shares of NASDAQ:SBGI opened at $22.33 on Wednesday. Sinclair Broadcast Group has a 52-week low of $18.89 and a 52-week high of $33.62. The stock has a market cap of $1.60 billion, a P/E ratio of 0.74 and a beta of 1.35. The business’s 50 day moving average is $21.93 and its 200 day moving average is $24.92. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 6.20.

Sinclair Broadcast Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 31st. This represents a $1.00 annualized dividend and a dividend yield of 4.48%. Sinclair Broadcast Group’s payout ratio is currently 3.33%.

Institutional Investors Weigh In On Sinclair Broadcast Group

Several hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its holdings in shares of Sinclair Broadcast Group by 18.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the company’s stock worth $150,000 after buying an additional 787 shares during the last quarter. Sei Investments Co. purchased a new position in Sinclair Broadcast Group in the 1st quarter valued at about $216,000. Ergoteles LLC purchased a new position in Sinclair Broadcast Group in the 1st quarter valued at about $461,000. Graham Capital Management L.P. purchased a new position in Sinclair Broadcast Group in the 1st quarter valued at about $587,000. Finally, MetLife Investment Management LLC boosted its position in Sinclair Broadcast Group by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 24,420 shares of the company’s stock valued at $684,000 after buying an additional 8,654 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. StockNews.com raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Wells Fargo & Company upgraded Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $33.00 in a report on Thursday, May 5th. TheStreet upgraded Sinclair Broadcast Group from a “d+” rating to a “c” rating in a report on Wednesday, June 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Sinclair Broadcast Group from $31.00 to $28.00 in a report on Monday, May 23rd. Finally, Rosenblatt Securities started coverage on Sinclair Broadcast Group in a report on Tuesday, April 19th. They set a “neutral” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

About Sinclair Broadcast Group

(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.

Featured Articles

Earnings History for Sinclair Broadcast Group (NASDAQ:SBGI)

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.