Sinclair Broadcast Group Inc. (SBGI) Receives $37.70 Consensus PT from Analysts
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) has received a consensus recommendation of “Buy” from the six analysts that are covering the stock. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $37.70.
A number of research firms recently issued reports on SBGI. Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Friday, July 15th. Wedbush lowered their price target on Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, September 27th.
In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $28.63, for a total value of $57,260.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 29.70% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in SBGI. Vanguard Group Inc. raised its stake in shares of Sinclair Broadcast Group by 3.1% in the second quarter. Vanguard Group Inc. now owns 5,406,277 shares of the company’s stock worth $161,432,000 after buying an additional 161,653 shares in the last quarter. FMR LLC raised its stake in shares of Sinclair Broadcast Group by 1.2% in the second quarter. FMR LLC now owns 4,840,822 shares of the company’s stock worth $144,547,000 after buying an additional 55,136 shares in the last quarter. GMT Capital Corp raised its stake in shares of Sinclair Broadcast Group by 4.8% in the second quarter. GMT Capital Corp now owns 4,105,300 shares of the company’s stock worth $122,584,000 after buying an additional 189,300 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Sinclair Broadcast Group by 18.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,597,931 shares of the company’s stock worth $77,574,000 after buying an additional 402,273 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Sinclair Broadcast Group by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,774,419 shares of the company’s stock worth $52,985,000 after buying an additional 85,009 shares in the last quarter. 69.55% of the stock is currently owned by institutional investors.
Sinclair Broadcast Group (NASDAQ:SBGI) opened at 25.86 on Tuesday. Sinclair Broadcast Group has a one year low of $25.70 and a one year high of $35.89. The firm has a market cap of $2.44 billion, a PE ratio of 14.13 and a beta of 1.83. The firm’s 50 day moving average price is $28.10 and its 200-day moving average price is $29.99.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $666.50 million for the quarter, compared to analyst estimates of $658.61 million. Sinclair Broadcast Group had a return on equity of 34.76% and a net margin of 7.28%. The business’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 earnings per share. Equities analysts predict that Sinclair Broadcast Group will post $2.90 EPS for the current fiscal year.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.
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