Guggenheim began coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a report released on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 price objective on the stock.
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine raised shares of Sinclair Broadcast Group from a sell rating to a hold rating in a report on Thursday, June 21st. BidaskClub raised shares of Sinclair Broadcast Group from a sell rating to a hold rating in a report on Wednesday, June 20th. TheStreet raised shares of Sinclair Broadcast Group from a c+ rating to a b rating in a report on Friday, June 29th. B. Riley lowered their target price on shares of Sinclair Broadcast Group from $49.00 to $36.00 and set a buy rating on the stock in a report on Tuesday, July 17th. Finally, JPMorgan Chase & Co. began coverage on shares of Sinclair Broadcast Group in a report on Wednesday, September 26th. They set a neutral rating and a $32.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $40.15.
Sinclair Broadcast Group stock traded down $0.05 during trading on Tuesday, hitting $29.66. The stock had a trading volume of 20,436 shares, compared to its average volume of 1,173,464. Sinclair Broadcast Group has a 1 year low of $25.13 and a 1 year high of $40.15. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 2.44. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 10.66 and a beta of 1.39.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.02 by $0.25. Sinclair Broadcast Group had a return on equity of 19.12% and a net margin of 19.47%. The business had revenue of $730.10 million for the quarter, compared to the consensus estimate of $715.55 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Sinclair Broadcast Group’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Sinclair Broadcast Group will post 2.53 earnings per share for the current fiscal year.
Hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Sinclair Broadcast Group in the second quarter worth $157,000. Cerebellum GP LLC bought a new position in shares of Sinclair Broadcast Group in the third quarter worth $193,000. Hikari Power Ltd bought a new position in shares of Sinclair Broadcast Group in the second quarter worth $279,000. Canada Pension Plan Investment Board bought a new position in shares of Sinclair Broadcast Group in the second quarter worth $322,000. Finally, Engineers Gate Manager LP bought a new position in shares of Sinclair Broadcast Group in the second quarter worth $324,000. 77.91% of the stock is currently owned by institutional investors and hedge funds.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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