Sinclair Broadcast Group (NASDAQ:SBGI) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a hold rating to a buy rating in a research note published on Sunday, December 31st.

Several other analysts have also recently issued reports on the stock. BidaskClub raised shares of Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Thursday, December 14th. Ameriprise Financial reaffirmed a buy rating and set a $45.00 price objective (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. Zacks Investment Research raised shares of Sinclair Broadcast Group from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Wednesday, October 4th. Wells Fargo & Co reiterated an outperform rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. 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 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $45.42.

Sinclair Broadcast Group (NASDAQ SBGI) traded down $0.35 on Friday, reaching $39.05. 1,126,900 shares of the company’s stock were exchanged, compared to its average volume of 2,241,844. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $43.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $3,972.99, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.18 and a beta of 1.93.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The firm had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. analysts predict that Sinclair Broadcast Group will post 1.98 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in SBGI. Prudential Financial Inc. lifted its holdings in Sinclair Broadcast Group by 436.6% during the 3rd quarter. Prudential Financial Inc. now owns 1,154,448 shares of the company’s stock worth $37,001,000 after buying an additional 939,289 shares in the last quarter. Royal Bank of Canada increased its position in shares of Sinclair Broadcast Group by 4,036.0% in the 2nd quarter. Royal Bank of Canada now owns 830,350 shares of the company’s stock valued at $27,317,000 after purchasing an additional 810,274 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Sinclair Broadcast Group in the 2nd quarter valued at approximately $26,002,000. Russell Investments Group Ltd. increased its position in shares of Sinclair Broadcast Group by 980.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 842,172 shares of the company’s stock valued at $26,992,000 after purchasing an additional 764,195 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Sinclair Broadcast Group by 15.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,729,416 shares of the company’s stock valued at $151,576,000 after purchasing an additional 616,122 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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