Wall Street analysts expect Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to announce earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Sinclair Broadcast Group’s earnings. The lowest EPS estimate is $0.37 and the highest is $0.42. Sinclair Broadcast Group reported earnings per share of $0.70 during the same quarter last year, which would suggest a negative year-over-year growth rate of 42.9%. The company is expected to issue its next earnings results on Wednesday, November 1st.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full-year earnings of $1.95 per share for the current financial year, with EPS estimates ranging from $1.86 to $2.04. For the next financial year, analysts expect that the company will post earnings of $3.22 per share, with EPS estimates ranging from $2.98 to $3.48. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 2nd. The company reported $0.43 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. Sinclair Broadcast Group had a return on equity of 32.06% and a net margin of 9.70%. The business had revenue of $679.30 million during the quarter, compared to the consensus estimate of $678.23 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Stephens set a $46.00 price target on Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Benchmark Co. lifted their price target on Sinclair Broadcast Group from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Sinclair Broadcast Group in a research note on Wednesday, July 5th. Finally, ValuEngine upgraded Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Tuesday, May 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $43.50.

In other Sinclair Broadcast Group news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $34.75, for a total value of $69,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 28.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Sinclair Broadcast Group by 60.2% in the first quarter. American Century Companies Inc. now owns 40,918 shares of the company’s stock worth $1,657,000 after buying an additional 15,384 shares during the last quarter. Algert Global LLC bought a new position in shares of Sinclair Broadcast Group during the first quarter worth approximately $2,291,000. First Trust Advisors LP increased its position in shares of Sinclair Broadcast Group by 226.0% in the first quarter. First Trust Advisors LP now owns 48,933 shares of the company’s stock worth $1,982,000 after buying an additional 33,925 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Sinclair Broadcast Group by 13.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 46,680 shares of the company’s stock worth $1,891,000 after buying an additional 5,414 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Sinclair Broadcast Group by 1,504.8% in the first quarter. LSV Asset Management now owns 70,609 shares of the company’s stock worth $2,859,000 after buying an additional 66,209 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) opened at 31.35 on Friday. The stock has a market capitalization of $3.22 billion, a P/E ratio of 10.99 and a beta of 1.79. The stock has a 50 day moving average price of $33.52 and a 200 day moving average price of $36.18. Sinclair Broadcast Group has a 12-month low of $24.15 and a 12-month high of $43.05.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. Sinclair Broadcast Group’s payout ratio is currently 24.83%.

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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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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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