Analysts expect that Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) will post $734.43 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Sinclair Broadcast Group’s earnings, with the highest sales estimate coming in at $745.22 million and the lowest estimate coming in at $728.00 million. Sinclair Broadcast Group reported sales of $797.69 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Sinclair Broadcast Group will report full-year sales of $734.43 million for the current financial year, with estimates ranging from $2.73 billion to $2.76 billion. For the next fiscal year, analysts expect that the company will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Sinclair Broadcast Group.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). The company had revenue of $670.90 million for the quarter, compared to the consensus estimate of $671.42 million. Sinclair Broadcast Group had a net margin of 4.85% and a return on equity of 10.68%. Sinclair Broadcast Group’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share.
A number of equities analysts have recently commented on SBGI shares. Benchmark Co. lifted their price objective on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Saturday, August 5th. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. Wells Fargo & Company reiterated an “outperform” rating and issued a $55.00 price objective on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Finally, Deutsche Bank AG started coverage on Sinclair Broadcast Group in a research note on Friday, October 20th. They issued a “buy” rating and a $46.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Sinclair Broadcast Group currently has an average rating of “Buy” and an average price target of $44.82.
In related news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the sale, the director now directly owns 10,990 shares of the company’s stock, valued at $351,460.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.20% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Sinclair Broadcast Group by 8.5% during the second quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after buying an additional 520,001 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Sinclair Broadcast Group by 74.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 910,582 shares of the company’s stock valued at $29,959,000 after purchasing an additional 388,636 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Sinclair Broadcast Group by 1,280.9% during the second quarter. Prudential Financial Inc. now owns 215,159 shares of the company’s stock valued at $7,079,000 after purchasing an additional 199,578 shares in the last quarter. Vivaldi Asset Management LLC acquired a new stake in Sinclair Broadcast Group during the second quarter valued at approximately $2,703,000. Finally, Russell Investments Group Ltd. boosted its holdings in Sinclair Broadcast Group by 340.0% during the second quarter. Russell Investments Group Ltd. now owns 77,977 shares of the company’s stock valued at $2,565,000 after purchasing an additional 60,253 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.
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Sinclair Broadcast Group (SBGI) opened at $33.05 on Friday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $3,340.00, a PE ratio of 13.25, a PEG ratio of 7.85 and a beta of 1.92. Sinclair Broadcast Group has a 12 month low of $26.70 and a 12 month high of $43.05.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 27.07%.
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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