Sinclair Broadcast Group (SBGI) PT Raised to $35.00

Sinclair Broadcast Group (NASDAQ:SBGI) had its price objective boosted by analysts at B. Riley from $33.00 to $35.00 in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. B. Riley’s price target would suggest a potential upside of 11.46% from the company’s current price.

Several other equities analysts also recently commented on SBGI. ValuEngine downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Wells Fargo & Co lowered their target price on shares of Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, July 18th. BidaskClub downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Evercore ISI initiated coverage on shares of Sinclair Broadcast Group in a report on Tuesday, July 31st. They issued an “in-line” rating and a $34.00 target price on the stock. Finally, TheStreet downgraded shares of Sinclair Broadcast Group from a “b-” rating to a “c+” rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $39.00.

Shares of SBGI stock traded down $0.37 during mid-day trading on Thursday, hitting $31.40. The company had a trading volume of 1,303,178 shares, compared to its average volume of 1,259,866. Sinclair Broadcast Group has a 52-week low of $25.13 and a 52-week high of $40.15. The company has a debt-to-equity ratio of 2.44, a quick ratio of 2.96 and a current ratio of 2.96. The company has a market capitalization of $3.21 billion, a PE ratio of 11.21 and a beta of 1.28.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, November 7th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. Sinclair Broadcast Group had a net margin of 19.98% and a return on equity of 19.86%. The firm had revenue of $766.30 million for the quarter, compared to the consensus estimate of $752.56 million. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts predict that Sinclair Broadcast Group will post 2.44 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its position in Sinclair Broadcast Group by 9.3% in the third quarter. Massmutual Trust Co. FSB ADV now owns 21,021 shares of the company’s stock worth $596,000 after purchasing an additional 1,796 shares during the last quarter. BancorpSouth Bank increased its position in Sinclair Broadcast Group by 13.1% in the second quarter. BancorpSouth Bank now owns 18,927 shares of the company’s stock worth $608,000 after purchasing an additional 2,187 shares during the last quarter. Sei Investments Co. increased its position in Sinclair Broadcast Group by 1.6% in the second quarter. Sei Investments Co. now owns 182,209 shares of the company’s stock worth $5,858,000 after purchasing an additional 2,933 shares during the last quarter. US Bancorp DE increased its position in Sinclair Broadcast Group by 9.9% in the second quarter. US Bancorp DE now owns 38,107 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,431 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in Sinclair Broadcast Group by 49.5% in the first quarter. Xact Kapitalforvaltning AB now owns 10,867 shares of the company’s stock worth $340,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.

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, 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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