Sinclair Broadcast Group Inc. (SBGI) Shares Down 1.5%
Sinclair Broadcast Group Inc. (NASDAQ:SBGI) shares traded down 1.5% during trading on Thursday . The stock traded as low as $28.72 and last traded at $28.87, with a volume of 382,785 shares traded. The stock had previously closed at $29.32.
Separately, Zacks Investment Research raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.59.
The stock has a market cap of $2.73 billion and a PE ratio of 15.78. The stock has a 50-day moving average of $29.55 and a 200-day moving average of $30.73.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. During the same period in the prior year, the company earned $0.48 earnings per share. The company earned $666.50 million during the quarter, compared to the consensus estimate of $658.61 million. The firm’s revenue was up 20.3% compared to the same quarter last year. On average, analysts expect that Sinclair Broadcast Group Inc. will post $3.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.49%.
A number of hedge funds and institutional investors recently added to or reduced their stakes in SBGI. Morgan Stanley boosted its position in Sinclair Broadcast Group by 22.3% in the fourth quarter. Morgan Stanley now owns 940,911 shares of the company’s stock valued at $30,617,000 after buying an additional 171,468 shares in the last quarter. US Bancorp DE boosted its position in shares of Sinclair Broadcast Group by 2.5% in the fourth quarter. US Bancorp DE now owns 43,648 shares of the company’s stock valued at $1,421,000 after buying an additional 1,057 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sinclair Broadcast Group by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,566,726 shares of the company’s stock valued at $50,979,000 after buying an additional 224,925 shares in the last quarter. Finally, Airain ltd boosted its position in shares of Sinclair Broadcast Group by 11.4% in the fourth quarter. Airain ltd now owns 46,466 shares of the company’s stock valued at $1,512,000 after buying an additional 4,757 shares in the last quarter.
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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