Sinclair Broadcast Group Inc. (NASDAQ:SBGI) had its target price decreased by Wedbush from $37.00 to $36.00 in a report released on Tuesday morning. Wedbush currently has an outperform rating on the stock.
Separately, Zacks Investment Research raised Sinclair Broadcast Group from a sell rating to a hold rating in a research note on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $37.42.
Shares of Sinclair Broadcast Group (NASDAQ:SBGI) opened at 28.39 on Tuesday. Sinclair Broadcast Group has a 12 month low of $25.15 and a 12 month high of $35.89. The firm’s 50-day moving average price is $28.51 and its 200-day moving average price is $30.28. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 15.51 and a beta of 1.78.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The firm earned $666.50 million during the quarter, compared to analysts’ expectations of $658.61 million. During the same period in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 20.3% on a year-over-year basis. On average, equities analysts anticipate that Sinclair Broadcast Group will post $2.90 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.54%. Sinclair Broadcast Group’s dividend payout ratio is currently 39.34%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Sinclair Broadcast Group by 65.2% in the first quarter. BlackRock Inc. now owns 4,526 shares of the company’s stock valued at $139,000 after buying an additional 1,787 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Sinclair Broadcast Group during the second quarter valued at $146,000. Tower Research Capital LLC TRC purchased a new position in Sinclair Broadcast Group during the second quarter valued at $156,000. Bancorpsouth Inc. purchased a new position in Sinclair Broadcast Group during the first quarter valued at $219,000. Finally, Fox Run Management L.L.C. purchased a new position in Sinclair Broadcast Group during the second quarter valued at $236,000. 69.55% of the stock is owned by institutional investors.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.
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