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

Sinclair Broadcast Group (NASDAQ:SBGI) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, BidAskClub reports.

A number of other research firms also recently issued reports on SBGI. Wells Fargo & Company boosted their price target on Sinclair Broadcast Group from $13.00 to $16.00 and gave the company an “underweight” rating in a research report on Thursday, August 6th. Wolfe Research downgraded Sinclair Broadcast Group from an “outperform” rating to a “peer perform” rating and set a $19.00 price target for the company. in a research report on Monday, July 20th. Zacks Investment Research cut Sinclair Broadcast Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 23rd. Benchmark reduced their price objective on Sinclair Broadcast Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, ValuEngine cut Sinclair Broadcast Group from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $28.29.

SBGI stock opened at $21.63 on Friday. The stock has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $18.56. Sinclair Broadcast Group has a 12-month low of $10.57 and a 12-month high of $45.63. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 6.81. The company has a market cap of $1.61 billion, a PE ratio of 5.03 and a beta of 1.33.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $3.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.83 by ($1.71). Sinclair Broadcast Group had a net margin of 6.37% and a return on equity of 33.77%. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm posted $0.45 EPS. Sinclair Broadcast Group’s revenue was up 66.4% on a year-over-year basis. Equities analysts forecast that Sinclair Broadcast Group will post 4.72 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC lifted its stake in shares of Sinclair Broadcast Group by 94.5% in the first quarter. Squarepoint Ops LLC now owns 197,400 shares of the company’s stock worth $3,174,000 after acquiring an additional 95,901 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Sinclair Broadcast Group by 102.0% in the second quarter. First Trust Advisors LP now owns 252,218 shares of the company’s stock worth $4,656,000 after acquiring an additional 127,357 shares in the last quarter. Two Sigma Investments LP lifted its stake in shares of Sinclair Broadcast Group by 135.5% in the first quarter. Two Sigma Investments LP now owns 202,989 shares of the company’s stock worth $3,264,000 after acquiring an additional 116,788 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Sinclair Broadcast Group by 86.2% in the first quarter. Janus Henderson Group PLC now owns 347,635 shares of the company’s stock worth $5,590,000 after acquiring an additional 160,890 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Sinclair Broadcast Group by 87.9% in the first quarter. Meeder Asset Management Inc. now owns 2,741 shares of the company’s stock worth $44,000 after acquiring an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 65.83% 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, 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: What is a dividend reinvestment plan?

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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.