Shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) have received an average rating of “Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $44.80.

Several research analysts have commented on the stock. Benchmark Co. upped their target price on shares of Sinclair Broadcast Group from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research report on Tuesday, May 16th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Sinclair Broadcast Group in a research report on Wednesday, July 5th. Finally, Stephens set a $46.00 target price on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research report on Saturday, June 3rd.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $34.75, for a total transaction of $69,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 28.20% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Independent Portfolio Consultants Inc. increased its stake in shares of Sinclair Broadcast Group by 2.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 2,575 shares of the company’s stock valued at $104,000 after buying an additional 60 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sinclair Broadcast Group by 55.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,897 shares of the company’s stock valued at $117,000 after buying an additional 1,036 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Sinclair Broadcast Group by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,230 shares of the company’s stock valued at $131,000 after buying an additional 278 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Sinclair Broadcast Group by 2.7% in the second quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after buying an additional 164 shares during the period. Finally, M&T Bank Corp purchased a new stake in shares of Sinclair Broadcast Group during the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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Shares of Sinclair Broadcast Group (SBGI) traded down 1.57% during midday trading on Tuesday, reaching $31.40. 4,145,970 shares of the company were exchanged. Sinclair Broadcast Group has a 52-week low of $24.15 and a 52-week high of $43.05. The company’s 50-day moving average price is $34.10 and its 200 day moving average price is $36.27. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 11.01 and a beta of 1.79.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 36.67%. The business had revenue of $679.30 million during the quarter, compared to the consensus estimate of $678.23 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts predict that Sinclair Broadcast Group will post $2.01 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Wednesday, August 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 24.83%.

Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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