Sinclair Broadcast Group Inc (NASDAQ:SBGI) – Equities research analysts at B. Riley lifted their FY2018 earnings per share estimates for shares of Sinclair Broadcast Group in a report issued on Tuesday, December 18th. B. Riley analyst B. Crockett now forecasts that the company will post earnings of $3.25 per share for the year, up from their previous estimate of $3.16. B. Riley currently has a “Neutral” rating and a $38.00 price target on the stock. B. Riley also issued estimates for Sinclair Broadcast Group’s Q4 2018 earnings at $1.97 EPS.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. The firm had revenue of $766.30 million during the quarter, compared to analyst estimates of $752.56 million. Sinclair Broadcast Group had a net margin of 19.98% and a return on equity of 19.79%. Sinclair Broadcast Group’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS.
Shares of SBGI opened at $27.50 on Wednesday. The stock has a market capitalization of $2.69 billion, a P/E ratio of 9.82 and a beta of 1.30. The company has a debt-to-equity ratio of 2.43, a current ratio of 2.98 and a quick ratio of 2.98. Sinclair Broadcast Group has a 52-week low of $25.13 and a 52-week high of $40.15.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Friday, November 30th were given a dividend of $0.20 per share. This is a positive change from Sinclair Broadcast Group’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, November 29th. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. Sinclair Broadcast Group’s dividend payout ratio (DPR) is 28.57%.
In other news, Director Lawrence E. Mccanna sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were sold at an average price of $31.68, for a total transaction of $158,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 29.24% of the company’s stock.
Large investors have recently bought and sold shares of the company. B. Riley Financial Inc. boosted its position in shares of Sinclair Broadcast Group by 427.8% during the 2nd quarter. B. Riley Financial Inc. now owns 48,829 shares of the company’s stock valued at $1,570,000 after purchasing an additional 39,577 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Sinclair Broadcast Group during the third quarter valued at about $677,000. Fondren Management LP purchased a new stake in Sinclair Broadcast Group during the second quarter valued at about $2,251,000. Gabelli Funds LLC lifted its stake in Sinclair Broadcast Group by 8.8% during the second quarter. Gabelli Funds LLC now owns 420,334 shares of the company’s stock valued at $13,514,000 after buying an additional 34,034 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in Sinclair Broadcast Group by 2.4% during the second quarter. Gamco Investors INC. ET AL now owns 257,947 shares of the company’s stock valued at $8,293,000 after buying an additional 6,127 shares in the last quarter. Institutional investors own 67.45% of the company’s stock.
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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