Stephens set a $47.00 price target on Sinclair Broadcast Group (NASDAQ:SBGI) in a research note issued to investors on Tuesday. The firm currently has a buy rating on the stock.

Several other brokerages have also recently commented on SBGI. BidaskClub upgraded shares of Sinclair Broadcast Group from a buy rating to a strong-buy rating in a research note on Friday, December 22nd. ValuEngine upgraded shares of Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Sunday, December 31st. Jefferies Group started coverage on shares of Sinclair Broadcast Group in a research note on Thursday, December 14th. They set a buy rating and a $48.00 price objective for the company. Royal Bank of Canada restated a buy rating and set a $48.00 price objective on shares of Sinclair Broadcast Group in a research note on Thursday, January 4th. Finally, B. Riley lifted their price objective on shares of Sinclair Broadcast Group from $45.00 to $46.00 and gave the company a buy rating in a research note on Monday, November 27th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of Buy and a consensus target price of $45.50.

Sinclair Broadcast Group (NASDAQ SBGI) traded up $0.30 during mid-day trading on Tuesday, reaching $39.35. 1,480,600 shares of the company were exchanged, compared to its average volume of 2,165,720. The firm has a market cap of $4,000.00, a PE ratio of 14.79, a PEG ratio of 2.18 and a beta of 1.93. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The company had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. sell-side analysts anticipate that Sinclair Broadcast Group will post 1.98 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sinclair Broadcast Group by 9.4% during 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. purchased a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at approximately $141,000. FNY Managed Accounts LLC purchased a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at approximately $153,000. Cheyne Capital Management UK LLP purchased a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at approximately $170,000. Finally, Rational Advisors LLC purchased a new position in shares of Sinclair Broadcast Group during the 3rd quarter valued at approximately $234,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

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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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