Sinclair Broadcast Group (SBGI) Expected to Post Earnings of $0.73 Per Share

Analysts forecast that Sinclair Broadcast Group (NASDAQ:SBGI) will post earnings per share of $0.73 for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Sinclair Broadcast Group’s earnings, with estimates ranging from $0.08 to $1.05. Sinclair Broadcast Group reported earnings of $0.32 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 128.1%. The firm is expected to report its next earnings report before the market opens on Wednesday, May 9th.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.04 to $4.24. For the next financial year, analysts forecast that the business will post earnings of $2.75 per share, with EPS estimates ranging from $2.06 to $3.07. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Sinclair Broadcast Group.

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Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $1.07. The business had revenue of $734.00 million for the quarter, compared to analyst estimates of $733.41 million. Sinclair Broadcast Group had a return on equity of 22.76% and a net margin of 21.07%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 EPS.

Several equities research analysts have recently commented on the company. BidaskClub lowered Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 4th. Royal Bank of Canada reissued a “buy” rating and set a $48.00 price target on shares of Sinclair Broadcast Group in a research note on Thursday, January 4th. Stephens set a $47.00 price target on Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Tuesday, January 16th. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Finally, B. Riley reduced their target price on Sinclair Broadcast Group from $53.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $46.64.

A number of hedge funds have recently bought and sold shares of SBGI. New York State Common Retirement Fund lifted its stake in Sinclair Broadcast Group by 3.9% in the 3rd quarter. New York State Common Retirement Fund now owns 331,886 shares of the company’s stock valued at $10,637,000 after buying an additional 12,463 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Sinclair Broadcast Group by 41.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 9,988 shares of the company’s stock valued at $309,000 after buying an additional 2,941 shares in the last quarter. Legal & General Group Plc lifted its stake in Sinclair Broadcast Group by 14.8% in the 3rd quarter. Legal & General Group Plc now owns 33,667 shares of the company’s stock valued at $1,077,000 after buying an additional 4,344 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sinclair Broadcast Group by 7.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock valued at $66,615,000 after buying an additional 140,286 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in Sinclair Broadcast Group by 5.8% in the 3rd quarter. California Public Employees Retirement System now owns 153,560 shares of the company’s stock valued at $4,922,000 after buying an additional 8,460 shares in the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:SBGI opened at $29.40 on Thursday. The company has a market cap of $3,113.52, a PE ratio of 10.50, a PEG ratio of 1.48 and a beta of 1.64. The company has a debt-to-equity ratio of 2.53, a quick ratio of 2.36 and a current ratio of 2.36. Sinclair Broadcast Group has a 12 month low of $26.70 and a 12 month high of $41.15.

The business also recently announced a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Friday, March 9th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Thursday, March 8th. Sinclair Broadcast Group’s payout ratio is currently 25.71%.

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About Sinclair Broadcast Group

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales 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 and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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