Sinclair Broadcast Group Inc (NASDAQ:SBGI) – B. Riley raised their FY2018 earnings per share estimates for Sinclair Broadcast Group in a note issued to investors on Tuesday. B. Riley analyst B. Crockett now anticipates that the company will post earnings per share of $3.39 for the year, up from their prior estimate of $2.95. B. Riley currently has a “Buy” rating and a $46.00 target price on the stock.

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

SBGI has been the topic of several other research reports. BidaskClub upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. ValuEngine raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, December 4th. Ameriprise Financial reissued a “buy” rating and issued a $45.00 target price (up previously from $43.00) on shares of Sinclair Broadcast Group in a research note on Friday, November 3rd. Zacks Investment Research raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and an average price target of $45.50.

Shares of Sinclair Broadcast Group (NASDAQ SBGI) traded down $0.10 during trading hours on Thursday, reaching $39.80. The company’s stock had a trading volume of 780,279 shares, compared to its average volume of 1,560,000. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. The company has a market capitalization of $4,040.00, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.18 and a beta of 1.93. Sinclair Broadcast Group has a 52-week low of $26.70 and a 52-week high of $43.05.

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in Sinclair Broadcast Group by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 29,323 shares of the company’s stock worth $966,000 after buying an additional 1,321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after purchasing an additional 273 shares in the last quarter. Schroder Investment Management Group bought a new stake in Sinclair Broadcast Group during the 2nd quarter worth approximately $268,000. Wells Fargo & Company MN increased its holdings in Sinclair Broadcast Group by 26.2% during the 2nd quarter. Wells Fargo & Company MN now owns 152,103 shares of the company’s stock worth $5,004,000 after purchasing an additional 31,557 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Sinclair Broadcast Group by 28.1% during the 2nd quarter. Alliancebernstein L.P. now owns 127,194 shares of the company’s stock worth $4,185,000 after purchasing an additional 27,932 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

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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.

Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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