Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Monday.

A number of other equities research analysts have also issued reports on SBGI. Wells Fargo & Company reissued an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Benchmark Co. upped their price objective on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $45.00 price objective on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $45.14.

Shares of Sinclair Broadcast Group (SBGI) opened at 31.55 on Monday. The firm’s 50-day moving average is $29.54 and its 200-day moving average is $34.08. Sinclair Broadcast Group has a 12 month low of $24.15 and a 12 month high of $43.05. The company has a market cap of $3.24 billion, a PE ratio of 11.06 and a beta of 1.83.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, August 2nd. The company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Sinclair Broadcast Group had a net margin of 9.70% and a return on equity of 32.06%. The company had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Sinclair Broadcast Group will post $2.01 earnings per share for the current year.

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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $31.98, for a total transaction of $32,299.80. Following the transaction, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 28.20% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Phocas Financial Corp. lifted its position in shares of Sinclair Broadcast Group by 4.7% in the 2nd quarter. Phocas Financial Corp. now owns 380,489 shares of the company’s stock worth $12,518,000 after purchasing an additional 16,978 shares during the period. Sentry Investment Management LLC increased its position in shares of Sinclair Broadcast Group by 1.8% during the second quarter. Sentry Investment Management LLC now owns 83,593 shares of the company’s stock valued at $2,750,000 after buying an additional 1,441 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Sinclair Broadcast Group by 43.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 19,499 shares of the company’s stock valued at $642,000 after buying an additional 5,935 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Sinclair Broadcast Group by 25.5% during the second quarter. Public Employees Retirement System of Ohio now owns 99,343 shares of the company’s stock valued at $3,268,000 after buying an additional 20,214 shares during the period. Finally, Colony Group LLC increased its position in shares of Sinclair Broadcast Group by 16.6% during the second quarter. Colony Group LLC now owns 57,665 shares of the company’s stock valued at $1,897,000 after buying an additional 8,215 shares during the period. 80.87% of the stock is owned by hedge funds and other institutional investors.

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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