Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $34.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.43% from the stock’s current price.
According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
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Several other equities analysts have also recently weighed in on the company. ValuEngine cut Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th. Benchmark Co. lifted their target price on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a report on Monday. Eight investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $44.86.
Sinclair Broadcast Group (NASDAQ SBGI) traded up 0.698% on Wednesday, reaching $32.475. The company’s stock had a trading volume of 677,718 shares. The stock has a market cap of $3.34 billion, a P/E ratio of 11.387 and a beta of 1.83. The stock has a 50-day moving average of $29.70 and a 200-day moving average of $34.05. Sinclair Broadcast Group has a one year low of $24.15 and a one year high of $43.05.
Sinclair Broadcast Group (NASDAQ:SBGI) last issued its earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $679.30 million for the quarter, compared to the consensus estimate of $678.23 million. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.52 EPS. On average, analysts predict that Sinclair Broadcast Group will post $2.01 EPS for the current fiscal year.
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In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $31.98, for a total transaction of $32,299.80. Following the completion of the sale, the director now directly owns 10,990 shares of the company’s stock, valued at approximately $351,460.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 28.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in Sinclair Broadcast Group by 30.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,751,184 shares of the company’s stock valued at $255,014,000 after purchasing an additional 1,789,969 shares in the last quarter. Vanguard Group Inc. raised its position in Sinclair Broadcast Group by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock valued at $217,820,000 after purchasing an additional 520,001 shares in the last quarter. BlackRock Inc. raised its position in Sinclair Broadcast Group by 18,421.8% during the 1st quarter. BlackRock Inc. now owns 4,884,950 shares of the company’s stock valued at $197,842,000 after purchasing an additional 4,858,576 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Sinclair Broadcast Group by 201.3% in the 2nd quarter. Principal Financial Group Inc. now owns 4,113,294 shares of the company’s stock worth $135,326,000 after acquiring an additional 2,748,201 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in shares of Sinclair Broadcast Group by 1,377.9% in the 1st quarter. Point72 Asset Management L.P. now owns 2,576,060 shares of the company’s stock worth $104,330,000 after acquiring an additional 2,401,760 shares in the last quarter. 80.87% of the stock is owned by institutional investors and hedge funds.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.
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Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $34.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.43% from the stock’s current […]
Sinclair Broadcast Group, Inc. NASDAQ SBGI was upgraded by Zacks Investment Research from a hold rating to a buy rating in a research note issued to investors on Wednesday The firm presently has a $34.00 price objective on the stock Zacks Investment Research‘s price target would suggest a potential upside of 5.43% from the stock’s current price According to Zacks Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States Get Sinclair Broadcast Group Inc. alerts Several other equities analysts have also recently weighed in on the company ValuEngine cut Sinclair Broadcast Group from a buy rating to a hold rating in a report on Monday, September 11th Royal Bank Of Canada reiterated a buy rating and issued a $45.00 target price on shares of Sinclair Broadcast Group in a report on Wednesday, July 5th Benchmark Co. lifted their target price on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, August 1st Finally Wells Fargo &amp; Company reiterated an outperform rating and issued a $55.00 target price on shares of Sinclair Broadcast Group in a report on Monday Eight investment analysts have rated the stock with a buy rating The stock currently has a consensus rating of Buy and an average target price of $44.86 Sinclair Broadcast Group NASDAQ SBGI traded up 0.698% on Wednesday reaching $32.475 The company’s stock had a trading volume of 677,718 shares The stock has a market cap of $3.34 billion a P E ratio of 11.387 and a beta of 1.83 The stock has a 50-day moving average of $29.70 and a 200-day moving average of $34.05 Sinclair Broadcast Group has a one year low of $24.15 and a one year high of $43.05 Sinclair Broadcast Group NASDAQ SBGI last issued its earnings results on Wednesday, August 2nd The company reported $0.43 earnings per share EPS for the quarter meeting the consensus estimate of $0.43 The company had revenue of $679.30 million for the quarter compared to the consensus estimate of $678.23 million Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70% The firm’s quarterly revenue was up 2.1% on a year-over-year basis During the same quarter last year the company earned $0.52 EPS On average analysts predict that Sinclair Broadcast Group will post $2.01 EPS for the current fiscal year COPYRIGHT VIOLATION WARNING This story was originally published by Chaffey Breeze and is the property of of Chaffey Breeze If you are reading this story on another publication it was stolen and republished in violation of U.S. and international copyright &amp; trademark laws The correct version of this story can be read at https://www.chaffeybreeze.com/2017/10/06/sinclair-broadcast-group-inc-sbgi-stock-rating-upgraded-by-zacks-investment-research.html. In other Sinclair Broadcast Group news Director Howard E Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction on Monday, October 2nd The stock was sold at an average price of $31.98 for a total transaction of $32,299.80 Following the completion of the sale the director now directly owns 10,990 shares of the company’s stock valued at approximately $351,460.20 The sale was disclosed in a filing with the SEC which is available at the SEC website Insiders own 28.20% of the company’s stock A number of hedge funds and other institutional investors have recently modified their holdings of the business Bank of New York Mellon Corp raised its position in Sinclair Broadcast Group by 30.0% during the 2nd quarter Bank of New York Mellon Corp now owns 7,751,184 shares of the company’s stock valued at $255,014,000 after purchasing an additional 1,789,969 shares in the last quarter Vanguard Group Inc. raised its position in Sinclair Broadcast Group by 8.5% during the 2nd quarter Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock valued at $217,820,000 after purchasing an additional 520,001 shares in the last quarter BlackRock Inc. raised its position in Sinclair Broadcast Group by 18,421.8% during the 1st quarter BlackRock Inc. now owns 4,884,950 shares of the company’s stock valued at $197,842,000 after purchasing an additional 4,858,576 shares in the last quarter Principal Financial Group Inc. raised its position in shares of Sinclair Broadcast Group by 201.3% in the 2nd quarter Principal Financial Group Inc. now owns 4,113,294 shares of the company’s stock worth $135,326,000 after acquiring an additional 2,748,201 shares in the last quarter Finally Point72 Asset Management L.P. raised its position in shares of Sinclair Broadcast Group by 1,377.9% in the 1st quarter Point72 Asset Management L.P. now owns 2,576,060 shares of the company’s stock worth $104,330,000 after acquiring an additional 2,401,760 shares in the last quarter 80.87% of the stock is owned by institutional investors and hedge funds About Sinclair Broadcast Group Sinclair Broadcast Group Inc is a television broadcasting company The Company focuses on providing content on its local television stations and digital platforms The Company’s segments are broadcast other and corporate The Broadcast segment consists of its broadcast television stations The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators local news it owns networks and other original programming produced by it Receive News &amp; Ratings for Sinclair Broadcast Group Inc. 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