Several analysts have recently updated their ratings and price targets for Sinclair Broadcast Group (NASDAQ: SBGI):

  • 5/14/2019 – Sinclair Broadcast Group was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 5/7/2019 – Sinclair Broadcast Group was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating. They now have a $61.00 price target on the stock.
  • 5/7/2019 – Sinclair Broadcast Group had its price target raised by analysts at Benchmark Co. from $45.00 to $90.00. They now have a “buy” rating on the stock.
  • 5/6/2019 – Sinclair Broadcast Group was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $57.00 price target on the stock, up previously from $46.00.
  • 4/30/2019 – Sinclair Broadcast Group had its price target raised by analysts at B. Riley from $38.00 to $46.00. They now have a “neutral” rating on the stock.
  • 4/18/2019 – Sinclair Broadcast Group was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/13/2019 – Sinclair Broadcast Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $49.00 price target on the stock. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 4/12/2019 – Sinclair Broadcast Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 4/6/2019 – Sinclair Broadcast Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $47.00 price target on the stock. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 4/5/2019 – Sinclair Broadcast Group was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 4/3/2019 – Sinclair Broadcast Group was upgraded by analysts at Wolfe Research from an “underperform” rating to an “outperform” rating.
  • 3/28/2019 – Sinclair Broadcast Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 3/27/2019 – Sinclair Broadcast Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $43.00 price target on the stock. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 3/21/2019 – Sinclair Broadcast Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
  • 3/21/2019 – Sinclair Broadcast Group was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

Shares of SBGI stock opened at $57.31 on Thursday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 17.11 and a beta of 1.56. Sinclair Broadcast Group Inc has a 52-week low of $25.13 and a 52-week high of $66.57.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.16). The business had revenue of $722.10 million for the quarter, compared to the consensus estimate of $707.94 million. Sinclair Broadcast Group had a net margin of 10.28% and a return on equity of 20.22%. Sinclair Broadcast Group’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Analysts expect that Sinclair Broadcast Group Inc will post 2.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. Sinclair Broadcast Group’s dividend payout ratio is presently 23.88%.

In other Sinclair Broadcast Group news, insider David R. Bochenek sold 977 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $38.79, for a total transaction of $37,897.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert E. Smith sold 143,002 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $38.58, for a total value of $5,517,017.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,893 shares of company stock worth $6,987,659. Insiders own 29.24% of the company’s stock.

Large investors have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY increased its holdings in shares of Sinclair Broadcast Group by 322.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,043 shares of the company’s stock worth $554,000 after purchasing an additional 16,062 shares during the last quarter. Vanguard Group Inc. increased its stake in Sinclair Broadcast Group by 4.6% during the third quarter. Vanguard Group Inc. now owns 7,225,931 shares of the company’s stock worth $204,855,000 after acquiring an additional 320,587 shares during the last quarter. Covington Capital Management bought a new stake in Sinclair Broadcast Group during the fourth quarter worth approximately $33,000. BlackRock Inc. increased its stake in Sinclair Broadcast Group by 1.6% during the fourth quarter. BlackRock Inc. now owns 5,190,505 shares of the company’s stock worth $136,718,000 after acquiring an additional 82,886 shares during the last quarter. Finally, Enlightenment Research LLC bought a new stake in Sinclair Broadcast Group during the fourth quarter worth approximately $53,000. 66.16% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating 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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