Sinclair Broadcast Group (NASDAQ:SBGI) announced its quarterly earnings data on Wednesday. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06, MarketWatch Earnings reports. The firm had revenue of $766.30 million during the quarter, compared to analyst estimates of $752.56 million. Sinclair Broadcast Group had a return on equity of 19.12% and a net margin of 19.47%. The company’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Sinclair Broadcast Group updated its Q4 2018 guidance to EPS and its FY 2018 guidance to EPS.
Shares of Sinclair Broadcast Group stock traded up $0.90 during trading on Wednesday, hitting $31.47. 946,763 shares of the company were exchanged, compared to its average volume of 1,168,115. The firm has a market capitalization of $3.02 billion, a P/E ratio of 11.24 and a beta of 1.28. 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.
A number of analysts recently commented on SBGI shares. Wells Fargo & Co lowered their price objective on Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, July 18th. BidaskClub lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Evercore ISI started coverage on Sinclair Broadcast Group in a research report on Tuesday, July 31st. They issued an “in-line” rating and a $34.00 price objective for the company. Zacks Investment Research lowered Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 11th. Finally, B. Riley lowered Sinclair Broadcast Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $33.00 in a research report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $38.80.
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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