FY2019 EPS Estimates for Sinclair Broadcast Group, Inc. (SBGI) Reduced by B. Riley
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) – Analysts at B. Riley dropped their FY2019 earnings per share (EPS) estimates for Sinclair Broadcast Group in a report issued on Monday. B. Riley analyst B. Crockett now anticipates that the company will post earnings of $2.20 per share for the year, down from their previous forecast of $2.22. B. Riley has a “Buy” rating and a $46.00 price target on the stock. B. Riley also issued estimates for Sinclair Broadcast Group’s FY2020 earnings at $2.89 EPS.
Several other equities analysts have also commented on the company. Ameriprise Financial reaffirmed a “buy” rating and issued a $45.00 price target (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. Zacks Investment Research lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. ValuEngine lowered Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 4th. FBR & Co assumed coverage on Sinclair Broadcast Group in a research note on Tuesday, October 31st. They set a “buy” rating and a $43.00 target price on the stock. Finally, Deutsche Bank assumed coverage on Sinclair Broadcast Group in a research note on Friday, October 20th. They set a “buy” rating and a $46.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.91.
Shares of Sinclair Broadcast Group (NASDAQ SBGI) traded up $0.60 during trading on Tuesday, hitting $34.35. The stock had a trading volume of 1,739,600 shares, compared to its average volume of 1,699,886. Sinclair Broadcast Group has a twelve month low of $26.70 and a twelve month high of $43.05. The firm has a market cap of $3,480.00, a price-to-earnings ratio of 13.99, a PEG ratio of 8.29 and a beta of 1.92. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. During the same period last year, the company earned $0.54 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is 27.07%.
In related news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the transaction, the director now owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 28.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sinclair Broadcast Group by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after purchasing an additional 273 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Sinclair Broadcast Group in the 2nd quarter valued at about $141,000. FNY Managed Accounts LLC acquired a new stake in Sinclair Broadcast Group in the 3rd quarter valued at about $153,000. New York State Teachers Retirement System acquired a new stake in Sinclair Broadcast Group in the 1st quarter valued at about $235,000. Finally, Teacher Retirement System of Texas raised its position in Sinclair Broadcast Group by 2.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.
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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