Sinclair Broadcast Group Inc (SBGI) Expected to Post Quarterly Sales of $734.67 Million

Analysts expect Sinclair Broadcast Group Inc (NASDAQ:SBGI) to post $734.67 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Sinclair Broadcast Group’s earnings, with the highest sales estimate coming in at $745.22 million and the lowest estimate coming in at $728.00 million. Sinclair Broadcast Group reported sales of $797.69 million in the same quarter last year, which would suggest a negative year over year growth rate of 7.9%. The company is expected to issue its next earnings results before the market opens on Wednesday, February 28th.

On average, analysts expect that Sinclair Broadcast Group will report full-year sales of $734.67 million for the current year, with estimates ranging from $2.73 billion to $2.76 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Sinclair Broadcast Group.

A number of research analysts have recently weighed in on SBGI shares. BidaskClub lowered Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Ameriprise Financial reaffirmed a “buy” rating and set a $45.00 price target (up from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. B. Riley increased their price target on Sinclair Broadcast Group from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, FBR & Co initiated coverage on Sinclair Broadcast Group in a research report on Tuesday, October 31st. They set a “buy” rating and a $43.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $46.00.

Several institutional investors and hedge funds have recently modified their holdings of SBGI. Sentry Investment Management LLC increased its position in Sinclair Broadcast Group by 1.8% in the second quarter. Sentry Investment Management LLC now owns 83,593 shares of the company’s stock worth $2,750,000 after buying an additional 1,441 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sinclair Broadcast Group by 28.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,843 shares of the company’s stock worth $259,000 after buying an additional 1,497 shares during the last quarter. Advisor Group Inc. increased its position in Sinclair Broadcast Group by 102.2% in the fourth quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock worth $124,000 after buying an additional 1,643 shares during the last quarter. Aperio Group LLC increased its position in Sinclair Broadcast Group by 14.8% in the fourth quarter. Aperio Group LLC now owns 13,748 shares of the company’s stock worth $520,000 after buying an additional 1,769 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Sinclair Broadcast Group by 20.1% in the third quarter. Pacer Advisors Inc. now owns 10,663 shares of the company’s stock worth $342,000 after buying an additional 1,782 shares during the last quarter. 84.93% of the stock is owned by institutional investors.

Sinclair Broadcast Group (SBGI) traded up $0.20 during mid-day trading on Monday, hitting $36.65. The stock had a trading volume of 1,367,400 shares, compared to its average volume of 1,513,959. 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. The company has a market capitalization of $3,708.46, a price-to-earnings ratio of 15.38, a PEG ratio of 1.99 and a beta of 1.80.

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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.

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

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