Sinclair Broadcast Group Inc. (NASDAQ:SBGI) Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $28.63, for a total value of $57,260.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) opened at 27.71 on Tuesday. Sinclair Broadcast Group Inc. has a 12-month low of $25.70 and a 12-month high of $35.89. The stock’s 50 day moving average price is $28.34 and its 200 day moving average price is $30.09. The company has a market capitalization of $2.62 billion, a PE ratio of 15.14 and a beta of 1.83.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company earned $666.50 million during the quarter, compared to the consensus estimate of $658.61 million. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. On average, equities research analysts forecast that Sinclair Broadcast Group Inc. will post $2.90 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.60%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 39.34%.
A number of research firms have issued reports on SBGI. Wedbush decreased their target price on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Zacks Investment Research upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $37.42.
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Sinclair Broadcast Group by 65.2% in the first quarter. BlackRock Inc. now owns 4,526 shares of the company’s stock worth $139,000 after buying an additional 1,787 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $146,000. Tower Research Capital LLC TRC bought a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $156,000. BNP Paribas Arbitrage SA boosted its stake in shares of Sinclair Broadcast Group by 107.6% in the third quarter. BNP Paribas Arbitrage SA now owns 5,779 shares of the company’s stock worth $167,000 after buying an additional 2,995 shares during the period. Finally, Bancorpsouth Inc. bought a new stake in shares of Sinclair Broadcast Group during the first quarter worth about $219,000. 69.55% of the stock is currently owned by institutional investors and hedge funds.
About Sinclair Broadcast Group
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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