Sinclair Broadcast Group Inc. (NASDAQ:sbgi) announced a quarterly dividend on Friday, November 4th. Shareholders of record on Thursday, December 1st will be given a dividend of 0.18 per share on Thursday, December 15th. This represents a $0.72 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, November 29th.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) opened at 31.95 on Thursday. The firm’s 50-day moving average is $27.65 and its 200 day moving average is $29.12. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 16.72 and a beta of 1.65. Sinclair Broadcast Group has a 52-week low of $24.15 and a 52-week high of $35.89.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.54 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.18. The business had revenue of $693.80 million for the quarter, compared to analysts’ expectations of $164.94 million. Sinclair Broadcast Group had a return on equity of 38.65% and a net margin of 7.16%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Equities analysts expect that Sinclair Broadcast Group will post $2.66 EPS for the current year.

Dividend History for Sinclair Broadcast Group (NASDAQ:sbgi)

Several analysts have recently commented on the stock. Benchmark Co. restated a “buy” rating and set a $44.00 price objective on shares of Sinclair Broadcast Group in a research report on Thursday, November 3rd. Stephens upgraded shares of Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 3rd. Wedbush decreased their price objective on shares of Sinclair Broadcast Group from $37.00 to $36.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 27th. Finally, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 6th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sinclair Broadcast Group has a consensus rating of “Buy” and a consensus target price of $38.13.

In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 5,000 shares of Sinclair Broadcast Group stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $31.97, for a total value of $159,850.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 29.70% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Sinclair Broadcast Group by 54.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 34,980 shares of the company’s stock worth $1,010,000 after buying an additional 12,400 shares in the last quarter. LPL Financial LLC increased its stake in shares of Sinclair Broadcast Group by 1.7% in the third quarter. LPL Financial LLC now owns 17,280 shares of the company’s stock worth $491,000 after buying an additional 294 shares in the last quarter. Credit Suisse AG increased its stake in shares of Sinclair Broadcast Group by 14.6% in the third quarter. Credit Suisse AG now owns 110,648 shares of the company’s stock worth $3,196,000 after buying an additional 14,113 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Sinclair Broadcast Group during the third quarter worth about $229,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Sinclair Broadcast Group during the third quarter worth about $1,323,000. Institutional investors own 69.62% of the company’s stock.

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Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.

5 Day Chart for NASDAQ:SBGI

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