Sinclair Broadcast Group (NASDAQ:SBGI) released its quarterly earnings results on Wednesday. The company reported $1.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $1.07, Morningstar.com reports. The firm had revenue of $734.00 million for the quarter, compared to analysts’ expectations of $733.41 million. Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 EPS.
Shares of Sinclair Broadcast Group (SBGI) traded down $2.25 on Thursday, hitting $33.80. 4,683,900 shares of the stock traded hands, compared to its average volume of 1,565,620. Sinclair Broadcast Group has a 12 month low of $26.70 and a 12 month high of $43.05. The company has a market capitalization of $3,667.76, a PE ratio of 12.42, a PEG ratio of 1.94 and a beta of 1.80. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74.
SBGI has been the topic of several research analyst reports. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. BidaskClub cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. B. Riley increased their price target on shares of Sinclair Broadcast Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Monday, November 27th. Zacks Investment Research raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, January 30th. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a report on Thursday, December 14th. They issued a “buy” rating and a $48.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Sinclair Broadcast Group has an average rating of “Buy” and an average target price of $46.64.
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Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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