Research analysts at Deutsche Bank AG assumed coverage on shares of Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) in a report issued on Friday. The firm set a “buy” rating and a $46.00 price target on the stock. Deutsche Bank AG’s target price indicates a potential upside of 49.59% from the company’s previous close.

Several other research firms also recently issued reports on SBGI. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Wells Fargo & Company restated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Finally, Benchmark Co. lifted their price objective on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Nine analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $45.00.

Sinclair Broadcast Group (NASDAQ:SBGI) opened at 30.75 on Friday. The company has a 50-day moving average price of $29.93 and a 200-day moving average price of $33.33. Sinclair Broadcast Group has a one year low of $24.15 and a one year high of $43.05. The firm has a market capitalization of $3.16 billion, a P/E ratio of 10.78 and a beta of 1.83.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The business had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts anticipate that Sinclair Broadcast Group will post $2.01 EPS for the current year.

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In other news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the transaction, the director now owns 10,990 shares in the company, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Sinclair Broadcast Group by 30.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,751,184 shares of the company’s stock worth $255,014,000 after acquiring an additional 1,789,969 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sinclair Broadcast Group by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after acquiring an additional 520,001 shares in the last quarter. BlackRock Inc. grew its position in shares of Sinclair Broadcast Group by 18,421.8% in the 1st quarter. BlackRock Inc. now owns 4,884,950 shares of the company’s stock worth $197,842,000 after acquiring an additional 4,858,576 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Sinclair Broadcast Group by 201.3% in the 2nd quarter. Principal Financial Group Inc. now owns 4,113,294 shares of the company’s stock worth $135,326,000 after acquiring an additional 2,748,201 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Sinclair Broadcast Group by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,938,276 shares of the company’s stock worth $63,772,000 after acquiring an additional 284,237 shares in the last quarter. Institutional investors own 80.87% of the company’s stock.

About Sinclair Broadcast Group

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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