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

Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGIGet Rating) have received an average rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $29.20.

Several brokerages have recently weighed in on SBGI. EF Hutton Acquisition Co. I boosted their price objective on shares of Sinclair Broadcast Group from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, October 5th. Wells Fargo & Company downgraded shares of Sinclair Broadcast Group from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $30.00 to $16.00 in a research report on Wednesday, November 2nd. Rosenblatt Securities reduced their price target on shares of Sinclair Broadcast Group from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Finally, StockNews.com upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Tuesday, November 15th.

Hedge Funds Weigh In On Sinclair Broadcast Group

Several institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in Sinclair Broadcast Group in the 3rd quarter valued at $11,145,000. Twinbeech Capital LP acquired a new position in Sinclair Broadcast Group in the 3rd quarter valued at $792,000. Trexquant Investment LP acquired a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth $1,735,000. Price T Rowe Associates Inc. MD grew its stake in shares of Sinclair Broadcast Group by 10.1% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 26,419 shares of the company’s stock worth $478,000 after purchasing an additional 2,433 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in shares of Sinclair Broadcast Group during the 3rd quarter worth $221,000. 88.32% of the stock is owned by institutional investors and hedge funds.

Sinclair Broadcast Group Stock Down 1.2 %

Shares of Sinclair Broadcast Group stock opened at $18.75 on Monday. Sinclair Broadcast Group has a 52-week low of $16.05 and a 52-week high of $31.04. The company has a 50 day moving average of $19.20 and a 200 day moving average of $21.41. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 6.60. The company has a market capitalization of $1.31 billion, a P/E ratio of 0.55 and a beta of 1.27.

Sinclair Broadcast Group (NASDAQ:SBGIGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. The business had revenue of $843.00 million during the quarter, compared to the consensus estimate of $889.66 million. Sinclair Broadcast Group had a net margin of 56.44% and a negative return on equity of 35.47%. The company’s revenue was down 45.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, research analysts forecast that Sinclair Broadcast Group will post 36.84 EPS for the current fiscal year.

Sinclair Broadcast Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.00 annualized dividend and a yield of 5.33%. Sinclair Broadcast Group’s dividend payout ratio is currently 2.91%.

About Sinclair Broadcast Group

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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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