Sinclair Broadcast Group Inc. (NASDAQ:SBGI) shares traded 1.94% higher at $18.41 on Wall Street last session.
In accordance with the data, 8 analysts cover Sinclair Broadcast Group Inc. (NASDAQ:SBGI). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $14.00, we find $18.00. Given the previous closing price of $18.06, this indicates a potential downside of -0.33 percent. SBGI stock price is now 6.35% away from the 50-day moving average and -11.75% away from the 200-day moving average. The market capitalization of the company currently stands at $1.28B.
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It has been rated a hold by 1 analysts and a buy by 3. Brokers who have rated the stock have averaged $26.29 as their price target over the next twelve months.
With the price target reduced from $25 to $16, JP Morgan Downgraded its rating from Neutral to Underweight for Sinclair Broadcast Group Inc. (NASDAQ: SBGI). On November 03, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Underweight’ on the stock reducing its target price from $30 to quote $16, while ‘Rosenblatt’ rates the stock as ‘Neutral’.
Insiders disposed of 207,009 shares of company stock worth roughly $3.81 million over the past 1 year. A total of 9.65% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SBGI stock. A new stake in Sinclair Broadcast Group Inc. shares was purchased by ARROWSTREET CAPITAL, LIMITED PARTNERSHIP during the first quarter worth $16,317,000. NOMURA HOLDINGS INC invested $11,351,000 in shares of SBGI during the first quarter. In the first quarter, AMERICAN FINANCIAL GROUP INC acquired a new stake in Sinclair Broadcast Group Inc. valued at approximately $7,401,000. BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in SBGI for approximately $6,996,000. HILLSDALE INVESTMENT MANAGEMENT INC. purchased a new stake in SBGI valued at around $3,956,000 in the second quarter. In total, there are 253 active investors with 80.00% ownership of the company’s stock.
Sinclair Broadcast Group Inc. (NASDAQ: SBGI) opened at $18.04 on Thursday. During the past 12 months, Sinclair Broadcast Group Inc. has had a low of $14.36 and a high of $31.04. As of last week, the company has a debt-to-equity ratio of 6.05, a current ratio of 2.30, and a quick ratio of 2.30. The fifty day moving average price for SBGI is $17.35 and a two-hundred day moving average price translates $20.82 for the stock.
The latest earnings results from Sinclair Broadcast Group Inc. (NASDAQ: SBGI) was released for Jun, 2022. According to the Broadcasting Company, earnings per share came in at -$0.17, beating analysts’ expectations of -$0.28 by 0.11. This compares to $0.23 EPS in the same period last year. The company reported revenue of $843.0 million for the quarter, compared to $1.53 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -45.08 percent. For the current quarter, analysts expect SBGI to generate $892.43M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/01/2022 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 5.43% percent yield. There was an ex-dividend date of 11/30/2022 for this dividend. In terms of dividend payout ratio, SBGI is presently at 2.00%.
Sinclair Broadcast Group Inc.(SBGI) Company Profile
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. As of December 31, 2021, the segment owned, operated, and provided services to 185 stations and 634 channels in 86 markets. The Local Sports segment operates regional sports networks. This segment broadcasts professional sports games and produce content. In addition, this segment owns regional sports network, which has the rights to air games of 45 professional sports teams and other sporting events. The company also owns and operates Tennis Channel, a cable network, which includes coverage of various tennis’ top tournaments and original professional sports and tennis lifestyle shows; the Tennis Channel International streaming service; Tennis Magazine, the sport’s print publication; and Tennis.com, an online tennis platform. Further, it owns and operates various networks carried on distribution platforms, including Comet, a science fiction network; CHARGE!, an adventure and action-based network; TBD, a multiscreen TV network; Stadium, a professional sports highlights and college games network; STIRR, an ad-supported DTC streaming app; and NewsON, an ad-supported app that provides access to live or on-demand local news broadcasts, including non-Sinclair affiliate partners. Additionally, the company provides technical services to the broadcast industry; and owns various non-media related investments, such as private equity, mezzanine financing, and real estate investments. Sinclair Broadcast Group, Inc. was founded in 1986 and is headquartered in Hunt Valley, Maryland.
