ValuEngine upgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a hold rating to a buy rating in a report published on Monday.

Other research analysts have also issued reports about the company. Wells Fargo & Company reaffirmed an outperform rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Zacks Investment Research lowered Sinclair Broadcast Group from a buy rating to a hold rating in a research report on Wednesday, August 9th. Ameriprise Financial reaffirmed a buy rating and issued a $45.00 target price (up from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. FBR & Co assumed coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They issued a buy rating and a $43.00 target price on the stock. Finally, B. Riley upped their target price on Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $44.91.

Sinclair Broadcast Group (NASDAQ:SBGI) traded up $0.70 during trading hours on Monday, reaching $34.60. The company had a trading volume of 1,696,200 shares, compared to its average volume of 1,703,179. The firm has a market capitalization of $3,449.02, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 8.48 and a beta of 1.92. Sinclair Broadcast Group has a 52-week low of $26.70 and a 52-week high of $43.05. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a net margin of 9.06% and a return on equity of 23.27%. The business had revenue of $670.90 million for the quarter, compared to analyst estimates of $671.42 million. During the same period in the previous year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. sell-side analysts anticipate that Sinclair Broadcast Group will post 2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is currently 27.07%.

In other news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the transaction, the director now 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 is accessible through this hyperlink. Corporate insiders own 28.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SBGI. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after acquiring an additional 273 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sinclair Broadcast Group during the 2nd quarter valued at approximately $141,000. FNY Managed Accounts LLC bought a new stake in Sinclair Broadcast Group during the 3rd quarter valued at approximately $153,000. Cheyne Capital Management UK LLP bought a new stake in Sinclair Broadcast Group during the 3rd quarter valued at approximately $170,000. Finally, Teacher Retirement System of Texas boosted its stake in Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares during the period. 84.80% of the stock is currently owned by institutional investors and hedge funds.

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Sinclair Broadcast Group Company Profile

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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