$709.30 Million in Sales Expected for Sinclair Broadcast Group Inc (SBGI) This Quarter
Wall Street brokerages expect Sinclair Broadcast Group Inc (NASDAQ:SBGI) to report $709.30 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Sinclair Broadcast Group’s earnings. The lowest sales estimate is $702.66 million and the highest is $715.33 million. Sinclair Broadcast Group posted sales of $649.94 million in the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, May 2nd.
On average, analysts expect that Sinclair Broadcast Group will report full year sales of $709.30 million for the current financial year, with estimates ranging from $3.02 billion to $3.10 billion. For the next year, analysts forecast that the firm will post sales of $3.02 billion per share, with estimates ranging from $2.97 billion to $3.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sinclair Broadcast Group.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, February 28th. The company reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $1.07. The firm had revenue of $734.00 million for the quarter, compared to analysts’ expectations of $733.41 million. Sinclair Broadcast Group had a return on equity of 24.94% and a net margin of 21.07%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS.
Sinclair Broadcast Group (NASDAQ SBGI) traded up $1.62 during midday trading on Thursday, reaching $35.00. The company’s stock had a trading volume of 1,400,000 shares, compared to its average volume of 1,476,427. The company has a market cap of $3,560.93, a PE ratio of 6.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.83. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. Sinclair Broadcast Group has a 12-month low of $26.70 and a 12-month high of $43.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 8th. Sinclair Broadcast Group’s dividend payout ratio is currently 12.72%.
Several institutional investors have recently made changes to their positions in SBGI. Advisor Group Inc. increased its stake in Sinclair Broadcast Group by 102.2% in the 4th quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock worth $124,000 after buying an additional 1,643 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in Sinclair Broadcast Group during the third quarter valued at $153,000. Cheyne Capital Management UK LLP acquired a new position in Sinclair Broadcast Group during the third quarter valued at $170,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sinclair Broadcast Group by 68.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,346 shares of the company’s stock valued at $171,000 after purchasing an additional 2,176 shares during the period. Finally, Parametrica Management Ltd acquired a new position in shares of Sinclair Broadcast Group in the fourth quarter worth about $207,000. Institutional investors own 81.60% of the company’s stock.
Sinclair Broadcast Group Company Profile
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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