Sinclair Broadcast Group (SBGI) Coverage Initiated by Analysts at Guggenheim

Guggenheim started coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a research note released on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $40.00 price objective on the stock.

Several other analysts have also issued reports on the stock. BidaskClub upgraded shares of Sinclair Broadcast Group from a sell rating to a hold rating in a research report on Friday, October 5th. JPMorgan Chase & Co. began coverage on shares of Sinclair Broadcast Group in a research report on Wednesday, September 26th. They set a neutral rating and a $32.00 price target for the company. ValuEngine upgraded shares of Sinclair Broadcast Group from a strong sell rating to a sell rating in a research report on Wednesday, September 12th. B. Riley lowered shares of Sinclair Broadcast Group from a buy rating to a neutral rating and cut their price target for the company from $36.00 to $33.00 in a research report on Thursday, September 6th. Finally, Zacks Investment Research lowered shares of Sinclair Broadcast Group from a hold rating to a sell rating in a research report on Saturday, August 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $40.15.

NASDAQ SBGI traded down $0.05 during trading on Tuesday, hitting $29.66. 20,436 shares of the company’s stock traded hands, compared to its average volume of 1,173,464. 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 12-month low of $25.13 and a 12-month high of $40.15. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 10.66 and a beta of 1.39.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.25. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. The business had revenue of $730.10 million during the quarter, compared to analyst estimates of $715.55 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Equities analysts expect that Sinclair Broadcast Group will post 2.53 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $157,000. Cerebellum GP LLC purchased a new stake in shares of Sinclair Broadcast Group during the third quarter worth about $193,000. Hikari Power Ltd purchased a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $279,000. Canada Pension Plan Investment Board purchased a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $322,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Sinclair Broadcast Group during the second quarter worth about $324,000. Institutional investors own 77.91% of the company’s stock.

Sinclair Broadcast Group Company Profile

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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