Sinclair Broadcast Group Inc (SBGI) Expected to Post Quarterly Sales of $668.79 Million

Brokerages expect Sinclair Broadcast Group Inc (NASDAQ:SBGI) to post $668.79 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sinclair Broadcast Group’s earnings. The highest sales estimate is $702.66 million and the lowest is $658.40 million. Sinclair Broadcast Group reported sales of $649.94 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The firm is scheduled to announce its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Sinclair Broadcast Group will report full year sales of $668.79 million for the current year, with estimates ranging from $2.93 billion to $3.07 billion. For the next year, analysts expect that the firm will report sales of $3.01 billion per share, with estimates ranging from $2.96 billion to $3.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sinclair Broadcast Group.

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Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $1.07. Sinclair Broadcast Group had a return on equity of 22.76% and a net margin of 21.07%. The firm had revenue of $734.00 million during the quarter, compared to the consensus estimate of $733.41 million. During the same period last year, the business posted $1.32 EPS. Sinclair Broadcast Group’s quarterly revenue was down 8.0% on a year-over-year basis.

SBGI has been the subject of several research analyst reports. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. B. Riley increased their target price on Sinclair Broadcast Group from $45.00 to $46.00 and gave the company a “buy” rating in a report on Monday, November 27th. BidaskClub cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Jefferies Group started coverage on Sinclair Broadcast Group in a report on Thursday, December 14th. They set a “buy” rating and a $48.00 target price on the stock. Finally, Stephens set a $47.00 target price on Sinclair Broadcast Group and gave the company a “buy” rating in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $46.64.

A number of large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Sinclair Broadcast Group by 28.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,843 shares of the company’s stock worth $259,000 after purchasing an additional 1,497 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Sinclair Broadcast Group by 102.2% during the fourth quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock worth $124,000 after purchasing an additional 1,643 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of Sinclair Broadcast Group by 14.8% during the fourth quarter. Aperio Group LLC now owns 13,748 shares of the company’s stock worth $520,000 after purchasing an additional 1,769 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Sinclair Broadcast Group by 20.1% during the third quarter. Pacer Advisors Inc. now owns 10,663 shares of the company’s stock worth $342,000 after purchasing an additional 1,782 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of Sinclair Broadcast Group by 33.6% during the fourth quarter. MML Investors Services LLC now owns 10,030 shares of the company’s stock worth $380,000 after purchasing an additional 2,523 shares during the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.

SBGI stock traded down $0.25 during midday trading on Friday, reaching $30.85. The company had a trading volume of 815,256 shares, compared to its average volume of 1,421,790. Sinclair Broadcast Group has a 12-month low of $26.70 and a 12-month high of $41.20. The stock has a market cap of $3,200.01, a P/E ratio of 5.54, a P/E/G ratio of 1.50 and a beta of 1.83. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 2.53.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Shareholders of record on Friday, March 9th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, March 8th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 12.72%.

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About Sinclair Broadcast Group

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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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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