Brokerages Anticipate Sinclair Broadcast Group Inc (SBGI) Will Announce Earnings of $0.56 Per Share

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Wall Street analysts forecast that Sinclair Broadcast Group Inc (NASDAQ:SBGI) will post earnings of $0.56 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Sinclair Broadcast Group’s earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.63. Sinclair Broadcast Group posted earnings of $0.30 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 86.7%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, November 7th.

On average, analysts expect that Sinclair Broadcast Group will report full-year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $2.57. For the next financial year, analysts forecast that the firm will post earnings of $2.27 per share, with EPS estimates ranging from $1.83 to $2.95. Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 7th. The company reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The firm had revenue of $766.30 million for the quarter, compared to the consensus estimate of $752.56 million. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine raised shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Stephens set a $35.00 target price on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Thursday, August 9th. B. Riley dropped their target price on shares of Sinclair Broadcast Group from $49.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 17th. Finally, Royal Bank of Canada dropped their target price on shares of Sinclair Broadcast Group from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.80.

Shares of NASDAQ SBGI traded up $1.12 during mid-day trading on Friday, reaching $31.69. The company had a trading volume of 1,381,065 shares, compared to its average volume of 1,168,115. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.96 and a quick ratio of 2.96. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 11.32 and a beta of 1.28. Sinclair Broadcast Group has a 52-week low of $25.13 and a 52-week high of $40.15.

A number of large investors have recently modified their holdings of the stock. BancorpSouth Bank boosted its stake in Sinclair Broadcast Group by 13.1% during the 2nd quarter. BancorpSouth Bank now owns 18,927 shares of the company’s stock worth $608,000 after purchasing an additional 2,187 shares during the period. Sei Investments Co. boosted its stake in Sinclair Broadcast Group by 1.6% during the 2nd quarter. Sei Investments Co. now owns 182,209 shares of the company’s stock worth $5,858,000 after purchasing an additional 2,933 shares during the period. US Bancorp DE boosted its stake in Sinclair Broadcast Group by 9.9% during the 2nd quarter. US Bancorp DE now owns 38,107 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,431 shares during the period. Xact Kapitalforvaltning AB boosted its stake in Sinclair Broadcast Group by 49.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 10,867 shares of the company’s stock worth $340,000 after purchasing an additional 3,600 shares during the period. Finally, Creative Planning boosted its stake in Sinclair Broadcast Group by 1.5% during the 2nd quarter. Creative Planning now owns 253,023 shares of the company’s stock worth $8,135,000 after purchasing an additional 3,644 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.

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, 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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