SBGI has been the subject of a number of other research reports. Rosenblatt Securities started coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, April 19th. They issued a neutral rating and a $21.00 price target for the company. Wells Fargo & Company upgraded shares of Sinclair Broadcast Group from an equal weight rating to an overweight rating and lifted their price target for the stock from $30.00 to $33.00 in a research note on Thursday, May 5th. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a sell rating to a hold rating in a research note on Friday, May 6th. Finally, Benchmark decreased their price target on shares of Sinclair Broadcast Group from $38.00 to $34.00 and set a buy rating for the company in a research note on Thursday, February 24th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of $30.20.
NASDAQ SBGI opened at $24.85 on Tuesday. The firm has a 50 day simple moving average of $25.23 and a 200-day simple moving average of $26.32. Sinclair Broadcast Group has a one year low of $21.81 and a one year high of $35.69. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 0.83 and a beta of 1.33.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, May 31st. This represents a $1.00 dividend on an annualized basis and a yield of 4.02%. Sinclair Broadcast Group’s payout ratio is currently 3.33%.
Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its holdings in shares of Sinclair Broadcast Group by 65.1% in the 4th quarter. Signaturefd LLC now owns 1,106 shares of the company’s stock valued at $29,000 after acquiring an additional 436 shares during the period. Eagle Bay Advisors LLC raised its position in Sinclair Broadcast Group by 108.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 1,040 shares of the company’s stock valued at $32,000 after purchasing an additional 540 shares during the last quarter. Wilen Investment Management CORP. purchased a new stake in Sinclair Broadcast Group in the 3rd quarter valued at $37,000. Steward Partners Investment Advisory LLC raised its position in Sinclair Broadcast Group by 44.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,940 shares of the company’s stock valued at $51,000 after purchasing an additional 600 shares during the last quarter. Finally, Cornerstone Advisory LLC purchased a new stake in Sinclair Broadcast Group in the 4th quarter valued at $87,000.
About Sinclair Broadcast Group (Get Rating)
Sinclair Broadcast Group, Inc operates as a media company in the United States. The company operates in two segments, Broadcast and Local Sports. The Broadcast segment 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 programming to television viewing audiences in the communities through its local television stations.
- Get a free copy of the StockNews.com research report on Sinclair Broadcast Group (SBGI)
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