Sinclair Broadcast Group Inc. (SBGI) Stock Price Down 1.5%
Shares of Sinclair Broadcast Group Inc. (NASDAQ:SBGI) dropped 1.5% during mid-day trading on Thursday . The stock traded as low as $28.72 and last traded at $28.87, with a volume of 382,785 shares changing hands. 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, May 7th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sinclair Broadcast Group currently has an average rating of “Buy” and an average price target of $37.59.
The firm has a 50-day moving average price of $29.52 and a 200-day moving average price of $30.70. The firm has a market capitalization of $2.77 billion and a PE ratio of 16.02.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, August 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.52. The firm earned $666.50 million during the quarter, compared to analysts’ expectations of $658.61 million. The business’s revenue was up 20.3% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. On average, equities research analysts forecast that Sinclair Broadcast Group Inc. will post $3.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.46%.
A number of institutional investors have recently modified their holdings of SBGI. Morgan Stanley raised its position in shares of Sinclair Broadcast Group by 22.3% in the fourth quarter. Morgan Stanley now owns 940,911 shares of the company’s stock worth $30,617,000 after buying an additional 171,468 shares during the period. US Bancorp DE raised 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 worth $1,421,000 after buying an additional 1,057 shares during the period. Dimensional Fund Advisors LP raised 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 worth $50,979,000 after buying an additional 224,925 shares during the period. Finally, Airain ltd raised 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 worth $1,512,000 after buying an additional 4,757 shares during the period.
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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