Analysts Expect Sinclair Broadcast Group Inc (SBGI) Will Announce Earnings of $1.18 Per Share

Equities analysts expect Sinclair Broadcast Group Inc (NASDAQ:SBGI) to announce earnings per share (EPS) of $1.18 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Sinclair Broadcast Group’s earnings, with estimates ranging from $1.01 to $1.28. Sinclair Broadcast Group posted earnings per share of $1.67 in the same quarter last year, which indicates a negative year over year growth rate of 29.3%. The firm is expected to issue its next earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.57. For the next fiscal year, analysts forecast that the company will post earnings of $2.29 per share, with EPS estimates ranging from $1.75 to $3.13. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The firm had revenue of $766.30 million for the quarter, compared to the consensus estimate of $752.56 million. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share.

Several equities analysts have recently weighed in on SBGI shares. ValuEngine downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. B. Riley decreased their price target on shares of Sinclair Broadcast Group from $49.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, July 17th. Wells Fargo & Co decreased their price target on shares of Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 18th. BidaskClub downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Finally, Evercore ISI started coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, July 31st. They issued an “in-line” rating and a $34.00 price target on the stock. One 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 target price of $39.00.

Hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sinclair Broadcast Group during the second quarter worth about $157,000. Exane Derivatives acquired a new stake in shares of Sinclair Broadcast Group during the third quarter valued at about $159,000. Cerebellum GP LLC acquired a new stake in shares of Sinclair Broadcast Group during the third quarter valued at about $193,000. PNC Financial Services Group Inc. increased its position in shares of Sinclair Broadcast Group by 114.4% during the third quarter. PNC Financial Services Group Inc. now owns 7,419 shares of the company’s stock valued at $211,000 after acquiring an additional 3,959 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Sinclair Broadcast Group by 355.6% during the third quarter. Steward Partners Investment Advisory LLC now owns 8,200 shares of the company’s stock valued at $232,000 after acquiring an additional 6,400 shares during the last quarter. 77.24% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SBGI traded down $0.37 during midday trading on Friday, hitting $31.40. The company’s stock had a trading volume of 1,303,100 shares, compared to its average volume of 1,482,507. The company has a current ratio of 2.96, a quick ratio of 2.96 and a debt-to-equity ratio of 2.44. The company has a market cap of $3.13 billion, a P/E ratio of 11.21 and a beta of 1.28. Sinclair Broadcast Group has a 12-month low of $25.13 and a 12-month high of $40.15.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, November 29th. This is an increase from Sinclair Broadcast Group’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 2.55%. Sinclair Broadcast Group’s payout ratio is 25.71%.

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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