Sinclair Broadcast Group Inc (SBGI) Receives $38.56 Average Target Price from Analysts

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Sinclair Broadcast Group Inc (NASDAQ:SBGI) has been given an average recommendation of “Buy” by the thirteen analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $38.56.

A number of equities research analysts have weighed in on SBGI shares. BidaskClub cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 9th. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 9th. Finally, Benchmark restated a “buy” rating and issued a $39.00 price objective on shares of Sinclair Broadcast Group in a report on Monday, January 14th.

Sinclair Broadcast Group stock traded up $0.93 during midday trading on Thursday, hitting $44.40. 61,914 shares of the stock were exchanged, compared to its average volume of 1,161,080. Sinclair Broadcast Group has a fifty-two week low of $25.13 and a fifty-two week high of $45.59. The stock has a market cap of $4.04 billion, a P/E ratio of 13.27 and a beta of 1.50. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 2.41.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 27th. The company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.12. Sinclair Broadcast Group had a net margin of 11.17% and a return on equity of 21.77%. The business had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $878.46 million. During the same period last year, the business earned $4.32 earnings per share. The business’s revenue for the quarter was up 25.4% on a year-over-year basis. As a group, analysts forecast that Sinclair Broadcast Group will post 2.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Friday, March 8th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is currently 23.88%.

In related news, Vice Chairman David B. Amy sold 22,032 shares of Sinclair Broadcast Group stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $38.38, for a total value of $845,588.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert E. Smith sold 143,002 shares of Sinclair Broadcast Group stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $38.58, for a total transaction of $5,517,017.16. The disclosure for this sale can be found here. Insiders sold 182,893 shares of company stock valued at $6,987,659 in the last 90 days. Company insiders own 29.24% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Covington Capital Management purchased a new stake in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $33,000. Enlightenment Research LLC purchased a new stake in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $53,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $103,000. PNC Financial Services Group Inc. lifted its position in shares of Sinclair Broadcast Group by 114.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,419 shares of the company’s stock worth $211,000 after buying an additional 3,959 shares during the last quarter. Finally, Signition LP purchased a new stake in shares of Sinclair Broadcast Group during the 4th quarter worth approximately $229,000. Institutional investors own 67.05% 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, sales, and other non-programming operating 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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Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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