Sinclair Broadcast Group (NASDAQ:SBGI) had its price target boosted by investment analysts at B. Riley from $33.00 to $35.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price target suggests a potential upside of 11.46% from the stock’s current price.

A number of other analysts have also issued reports on SBGI. ValuEngine lowered shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. Wells Fargo & Co lowered their target price on shares of Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, July 18th. BidaskClub lowered shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Evercore ISI initiated coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, July 31st. They set an “in-line” rating and a $34.00 target price for the company. Finally, TheStreet lowered shares of Sinclair Broadcast Group from a “b-” rating to a “c+” rating in a research note on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Sinclair Broadcast Group currently has a consensus rating of “Buy” and an average price target of $39.00.

SBGI stock traded down $0.37 during mid-day trading on Thursday, reaching $31.40. 1,303,178 shares of the stock traded hands, compared to its average volume of 1,259,866. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 2.44. Sinclair Broadcast Group has a one year low of $25.13 and a one year high of $40.15. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 11.21 and a beta of 1.28.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Sinclair Broadcast Group had a net margin of 19.98% and a return on equity of 19.86%. The business had revenue of $766.30 million for the quarter, compared to analysts’ expectations of $752.56 million. During the same quarter in the previous year, the business posted $0.30 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, equities research analysts expect that Sinclair Broadcast Group will post 2.44 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SBGI. Dimensional Fund Advisors LP boosted its stake in shares of Sinclair Broadcast Group by 32.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,812,866 shares of the company’s stock valued at $90,435,000 after purchasing an additional 688,400 shares during the period. Glenmede Trust Co. NA lifted its stake in Sinclair Broadcast Group by 33.9% in the second quarter. Glenmede Trust Co. NA now owns 1,756,862 shares of the company’s stock worth $56,484,000 after acquiring an additional 444,494 shares during the period. BlackRock Inc. lifted its stake in Sinclair Broadcast Group by 9.6% in the second quarter. BlackRock Inc. now owns 5,045,554 shares of the company’s stock worth $162,215,000 after acquiring an additional 443,097 shares during the period. Canada Pension Plan Investment Board lifted its stake in Sinclair Broadcast Group by 4,087.0% in the third quarter. Canada Pension Plan Investment Board now owns 418,700 shares of the company’s stock worth $11,870,000 after acquiring an additional 408,700 shares during the period. Finally, Alpine Associates Management Inc. purchased a new stake in Sinclair Broadcast Group in the second quarter worth about $8,782,000. 77.24% of the stock is owned by hedge funds and other institutional investors.

About Sinclair Broadcast Group

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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Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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