Sinclair Broadcast Group (NASDAQ:SBGI) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI – Get Rating) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the stock.

Several other equities analysts have also commented on the company. Benchmark restated a “buy” rating and set a $30.00 price target on shares of Sinclair Broadcast Group in a research note on Tuesday, February 21st. Rosenblatt Securities lowered their price target on shares of Sinclair Broadcast Group from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, February 23rd. Wells Fargo & Company cut their price objective on shares of Sinclair Broadcast Group from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Wednesday, February 22nd. TheStreet upgraded Sinclair Broadcast Group from a “c+” rating to a “b-” rating in a report on Friday, April 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Sinclair Broadcast Group from $22.00 to $18.00 in a research report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Sinclair Broadcast Group presently has an average rating of “Hold” and an average price target of $24.17.

Sinclair Broadcast Group Stock Performance

SBGI stock opened at $16.52 on Wednesday. Sinclair Broadcast Group has a twelve month low of $12.64 and a twelve month high of $25.79. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 4.61 and a beta of 1.42. The business’s fifty day simple moving average is $17.10 and its two-hundred day simple moving average is $17.52. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 5.08.

Sinclair Broadcast Group (NASDAQ:SBGI – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.28 by $0.62. The company had revenue of $960.00 million for the quarter, compared to the consensus estimate of $985.81 million. Sinclair Broadcast Group had a net margin of 7.32% and a return on equity of 39.37%. Analysts predict that Sinclair Broadcast Group will post 2.75 earnings per share for the current year.

Hedge Funds Weigh In On Sinclair Broadcast Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC increased its holdings in shares of Sinclair Broadcast Group by 54.9% in the first quarter. MetLife Investment Management LLC now owns 24,420 shares of the company’s stock valued at $684,000 after purchasing an additional 8,654 shares during the period. BlackRock Inc. raised its position in Sinclair Broadcast Group by 1.0% during the 1st quarter. BlackRock Inc. now owns 3,945,312 shares of the company’s stock worth $110,548,000 after buying an additional 38,631 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Sinclair Broadcast Group by 18.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the company’s stock valued at $150,000 after acquiring an additional 787 shares during the period. Dimensional Fund Advisors LP lifted its stake in Sinclair Broadcast Group by 273.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 314,516 shares of the company’s stock valued at $8,812,000 after acquiring an additional 230,233 shares during the period. Finally, Sei Investments Co. purchased a new stake in shares of Sinclair Broadcast Group in the 1st quarter valued at $216,000. Hedge funds and other institutional investors own 51.14% of the company’s stock.

Sinclair Broadcast Group Company Profile

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Sinclair Broadcast Group, Inc is a media company engaged in the provision of local sports and news. It operates through the following segments: Broadcast, Local Sports, and Others. The Broadcast segment consists of television stations which offer programming and operating services, and sales and other non-programming operating services.