Sinclair Broadcast Group (SBGI) Scheduled to Post Earnings on Wednesday

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Sinclair Broadcast Group (NASDAQ:SBGI) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.16). Sinclair Broadcast Group had a return on equity of 20.45% and a net margin of 10.28%. The firm had revenue of $722.10 million during the quarter, compared to analysts’ expectations of $707.94 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts expect Sinclair Broadcast Group to post $3 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Shares of NASDAQ:SBGI opened at $48.92 on Tuesday. Sinclair Broadcast Group has a 52-week low of $25.14 and a 52-week high of $66.57. The stock has a market capitalization of $4.51 billion, a PE ratio of 14.60 and a beta of 1.13. The company has a debt-to-equity ratio of 2.66, a quick ratio of 3.12 and a current ratio of 3.12. The business has a 50-day moving average price of $54.59.

SBGI has been the subject of several research analyst reports. Evercore ISI upgraded Sinclair Broadcast Group from an “in-line” rating to an “outperform” rating and set a $61.00 price objective for the company in a research note on Tuesday, May 7th. Zacks Investment Research cut Sinclair Broadcast Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 9th. B. Riley upgraded Sinclair Broadcast Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $57.00 in a research note on Monday, May 6th. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BidaskClub cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $49.75.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $53.16, for a total transaction of $106,320.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David D. Smith bought 395,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were bought at an average cost of $55.10 per share, for a total transaction of $21,764,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 18,250 shares of company stock worth $1,017,345. 32.30% of the stock is owned by corporate insiders.

Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.

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Earnings History for Sinclair Broadcast Group (NASDAQ:SBGI)

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