Sinclair Broadcast Group Inc (NASDAQ:SBGI) Director Lawrence E. Mccanna sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $53.16, for a total transaction of $106,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Shares of SBGI opened at $54.05 on Monday. Sinclair Broadcast Group Inc has a fifty-two week low of $25.13 and a fifty-two week high of $66.57. The company has a market cap of $4.94 billion, a P/E ratio of 16.13 and a beta of 1.25. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 2.66.
Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 8th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.16). Sinclair Broadcast Group had a return on equity of 20.45% and a net margin of 10.28%. The business had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $707.94 million. During the same period in the previous year, the company earned $0.42 earnings per share. Sinclair Broadcast Group’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts forecast that Sinclair Broadcast Group Inc will post 2.76 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Covington Capital Management purchased a new stake in Sinclair Broadcast Group during the 4th quarter worth approximately $33,000. MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $97,000. Pinnacle Associates Ltd. purchased a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $201,000. Quantamental Technologies LLC purchased a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $210,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at approximately $241,000. 65.00% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently commented on SBGI. BidaskClub lowered shares of Sinclair Broadcast Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of Sinclair Broadcast Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 14th. Benchmark upped their price objective on shares of Sinclair Broadcast Group from $45.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Evercore ISI upgraded shares of Sinclair Broadcast Group from an “in-line” rating to an “outperform” rating and set a $61.00 price objective on the stock in a report on Tuesday, May 7th. Finally, B. Riley upgraded shares of Sinclair Broadcast Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $57.00 in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $48.67.
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, 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.
Featured Article: Bollinger Bands
Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.