Sinclair Broadcast Group (NASDAQ:SBGI) will be issuing its quarterly earnings data before the market opens on Wednesday, November 7th. Analysts expect the company to announce earnings of $0.56 per share for the quarter.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.25. The company had revenue of $730.10 million during the quarter, compared to analysts’ expectations of $715.55 million. Sinclair Broadcast Group had a return on equity of 19.12% and a net margin of 19.47%. Sinclair Broadcast Group’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, analysts expect Sinclair Broadcast Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
SBGI stock opened at $29.91 on Tuesday. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 2.44. The stock has a market cap of $3.02 billion, a PE ratio of 10.68 and a beta of 1.28. Sinclair Broadcast Group has a fifty-two week low of $25.13 and a fifty-two week high of $40.15.
Several research firms have recently weighed in on SBGI. ValuEngine raised Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. BidaskClub raised Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 10th. Guggenheim began coverage on Sinclair Broadcast Group in a research report on Tuesday, October 16th. They set a “buy” rating and a $40.00 price objective for the company. B. Riley reduced their price objective on Sinclair Broadcast Group from $49.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 17th. Finally, JPMorgan Chase & Co. began coverage on Sinclair Broadcast Group in a research report on Wednesday, September 26th. They set a “neutral” rating and a $32.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Sinclair Broadcast Group has a consensus rating of “Hold” and a consensus target price of $38.80.
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About Sinclair Broadcast Group
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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