Sinclair Broadcast Group (NASDAQ:SBGI) Stock Rating Lowered by BidaskClub

Sinclair Broadcast Group (NASDAQ:SBGI) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other equities analysts have also issued reports on the stock. B. Riley decreased their target price on shares of Sinclair Broadcast Group from $70.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Stephens set a $80.00 target price on shares of Sinclair Broadcast Group and gave the company a “buy” rating in a research report on Wednesday, August 21st. Cannonball Research assumed coverage on shares of Sinclair Broadcast Group in a research report on Monday, September 9th. They issued a “hold” rating and a $44.00 target price for the company. Finally, Benchmark reiterated a “buy” rating and issued a $80.00 target price (down previously from $90.00) on shares of Sinclair Broadcast Group in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Sinclair Broadcast Group has an average rating of “Hold” and a consensus target price of $58.86.

Shares of SBGI opened at $38.33 on Tuesday. The firm has a 50-day moving average price of $40.52 and a 200 day moving average price of $48.24. The firm has a market capitalization of $3.47 billion, a PE ratio of 11.44 and a beta of 1.15. The company has a quick ratio of 3.11, a current ratio of 2.66 and a debt-to-equity ratio of 7.53. Sinclair Broadcast Group has a 52-week low of $25.14 and a 52-week high of $66.57.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.98). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.29 billion. Sinclair Broadcast Group had a net margin of 5.99% and a return on equity of 25.47%. The business’s quarterly revenue was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. On average, equities analysts expect that Sinclair Broadcast Group will post 2.48 EPS for the current year.

Large investors have recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its position in shares of Sinclair Broadcast Group by 2,016.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 783 shares of the company’s stock valued at $33,000 after purchasing an additional 746 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Sinclair Broadcast Group by 766.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $70,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Sun Life Financial INC bought a new position in shares of Sinclair Broadcast Group during the 2nd quarter valued at about $72,000. Institutional investors own 64.08% 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, 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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Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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