BidaskClub Lowers Sinclair Broadcast Group (SBGI) to Strong Sell

BidaskClub cut shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a sell rating to a strong sell rating in a report issued on Wednesday morning.

SBGI has been the topic of a number of other research reports. B. Riley raised 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. Stephens set a $47.00 price target on shares of Sinclair Broadcast Group and gave the company a buy rating in a report on Tuesday, January 16th. ValuEngine raised shares of Sinclair Broadcast Group from a hold rating to a buy rating in a report on Monday, December 4th. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a buy rating to a hold rating and set a $40.00 price target on the stock. in a report on Friday, February 9th. Finally, Jefferies Group initiated coverage on shares of Sinclair Broadcast Group in a report on Thursday, December 14th. They set a buy rating and a $48.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $46.64.

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Shares of SBGI stock opened at $30.85 on Wednesday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.36 and a current ratio of 2.36. The stock has a market cap of $3,164.39, a PE ratio of 5.45, a PEG ratio of 1.49 and a beta of 1.83. Sinclair Broadcast Group has a 1-year low of $26.70 and a 1-year high of $41.20.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $1.07. The firm had revenue of $734.00 million for the quarter, compared to the consensus estimate of $733.41 million. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.32 EPS. sell-side analysts forecast that Sinclair Broadcast Group will post 3.58 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, March 8th. Sinclair Broadcast Group’s payout ratio is 12.72%.

Several institutional investors and hedge funds have recently bought and sold shares of SBGI. Sei Investments Co. boosted its holdings in shares of Sinclair Broadcast Group by 10.3% in the third quarter. Sei Investments Co. now owns 185,983 shares of the company’s stock worth $5,961,000 after buying an additional 17,335 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Sinclair Broadcast Group by 3.9% in the third quarter. New York State Common Retirement Fund now owns 331,886 shares of the company’s stock worth $10,637,000 after buying an additional 12,463 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Sinclair Broadcast Group by 980.0% in the third quarter. Russell Investments Group Ltd. now owns 842,172 shares of the company’s stock worth $26,992,000 after buying an additional 764,195 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Sinclair Broadcast Group in the third quarter worth approximately $313,000. Finally, Rational Advisors LLC purchased a new position in shares of Sinclair Broadcast Group in the third quarter worth approximately $234,000. 87.22% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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