Sinclair Broadcast Group (NASDAQ:SBGI) Getting Somewhat Positive Press Coverage, Report Finds
Media coverage about Sinclair Broadcast Group (NASDAQ:SBGI) has trended somewhat positive recently, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Sinclair Broadcast Group earned a news impact score of 0.08 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 46.0643064327962 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
These are some of the news stories that may have impacted Accern’s scoring:
- Dish Network, trade groups and others oppose Sinclair Tribune deal (DISH, SBGI, AMZN) (markets.businessinsider.com)
- Corporate News Blog – Nexstar Acquires Non-spectrum Operating Assets of WLWC-TV, an Affiliate of Providence CW (finance.yahoo.com)
- Comparing Sinclair Broadcast Group (NASDAQ:SBGI) and Liberty Media Corporation (LSXMK) (americanbankingnews.com)
SBGI has been the topic of several research analyst reports. Zacks Investment Research cut Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Benchmark Co. increased their target price on Sinclair Broadcast Group from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $48.00 to $37.00 in a report on Thursday, May 11th. Royal Bank Of Canada restated a “buy” rating and set a $45.00 target price on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. Finally, Stephens set a $46.00 target price on Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Saturday, June 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Sinclair Broadcast Group presently has an average rating of “Buy” and an average price target of $43.50.
Sinclair Broadcast Group (NASDAQ SBGI) traded up 2.12% during trading on Friday, reaching $31.35. The company had a trading volume of 1,062,341 shares. The firm has a market capitalization of $3.22 billion, a PE ratio of 10.99 and a beta of 1.79. Sinclair Broadcast Group has a 12-month low of $24.15 and a 12-month high of $43.05. The firm’s 50 day moving average price is $33.52 and its 200 day moving average price is $36.18.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $679.30 million for the quarter, compared to analyst estimates of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. Sinclair Broadcast Group’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. Analysts anticipate that Sinclair Broadcast Group will post $2.01 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. Sinclair Broadcast Group’s dividend payout ratio is currently 24.83%.
In related news, Director Lawrence E. Mccanna sold 2,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $34.75, for a total transaction of $69,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 28.20% of the company’s stock.
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.
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