Sinclair Broadcast Group (NASDAQ:SBGI) Upgraded to Sell by BidaskClub

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

SBGI has been the topic of a number of other reports. B. Riley decreased their price target on Sinclair Broadcast Group from $70.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Wells Fargo & Co assumed coverage on Sinclair Broadcast Group in a research note on Tuesday, September 24th. They issued a “market perform” rating and a $48.00 price target on the stock. Zacks Investment Research downgraded Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th. Cannonball Research assumed coverage on Sinclair Broadcast Group in a research note on Monday, September 9th. They issued a “hold” rating and a $44.00 price target on the stock. Finally, ValuEngine upgraded Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.86.

Shares of SBGI stock traded down $0.73 during midday trading on Tuesday, hitting $41.27. The company had a trading volume of 16,183 shares, compared to its average volume of 713,178. The company has a debt-to-equity ratio of 2.59, a current ratio of 3.11 and a quick ratio of 3.11. Sinclair Broadcast Group has a 52-week low of $25.14 and a 52-week high of $66.57. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 12.33 and a beta of 1.18. The company’s 50 day simple moving average is $42.50 and its 200 day simple moving average is $48.80.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. Sinclair Broadcast Group had a return on equity of 23.05% and a net margin of 10.60%. The firm had revenue of $771.00 million for the quarter, compared to the consensus estimate of $764.48 million. During the same period in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts anticipate that Sinclair Broadcast Group will post 2.31 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in Sinclair Broadcast Group during the third quarter worth $1,046,000. Atria Investments LLC purchased a new stake in Sinclair Broadcast Group during the second quarter worth $1,031,000. Prudential Financial Inc. boosted its position in Sinclair Broadcast Group by 1,064.2% during the second quarter. Prudential Financial Inc. now owns 217,982 shares of the company’s stock worth $11,690,000 after purchasing an additional 199,259 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Sinclair Broadcast Group by 30.5% during the second quarter. Canada Pension Plan Investment Board now owns 691,546 shares of the company’s stock worth $37,088,000 after purchasing an additional 161,478 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Sinclair Broadcast Group during the second quarter worth $767,000. Institutional investors own 65.03% 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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