Sinclair Broadcast Group, Inc. to Post FY2017 Earnings of $1.96 Per Share, Jefferies Group Forecasts (SBGI)
Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) – Equities researchers at Jefferies Group issued their FY2017 earnings per share estimates for shares of Sinclair Broadcast Group in a research note issued to investors on Thursday. Jefferies Group analyst J. Janedis expects that the company will post earnings of $1.96 per share for the year. Jefferies Group has a “Buy” rating and a $48.00 price objective on the stock. Jefferies Group also issued estimates for Sinclair Broadcast Group’s Q4 2017 earnings at $0.64 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.69 EPS, Q3 2018 earnings at $0.65 EPS, Q4 2018 earnings at $1.30 EPS, FY2018 earnings at $3.21 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.66 EPS, Q3 2019 earnings at $0.49 EPS, FY2019 earnings at $2.39 EPS, FY2020 earnings at $3.99 EPS and FY2021 earnings at $2.83 EPS.
Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). Sinclair Broadcast Group had a return on equity of 10.68% and a net margin of 4.85%. The firm had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. During the same period last year, the business earned $0.54 EPS. The firm’s revenue was down 3.3% on a year-over-year basis.
A number of other analysts have also recently weighed in on the stock. BidaskClub raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine raised shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Monday, December 4th. B. Riley increased their price objective on shares of Sinclair Broadcast Group from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, November 27th. Ameriprise Financial reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $43.00) on shares of Sinclair Broadcast Group in a report on Friday, November 3rd. Finally, Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $45.17.
Shares of Sinclair Broadcast Group (SBGI) opened at $37.35 on Monday. 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 twelve month low of $26.70 and a twelve month high of $43.05. The firm has a market cap of $3,800.00, a PE ratio of 15.76, a P/E/G ratio of 9.34 and a beta of 1.92.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.93%. Sinclair Broadcast Group’s dividend payout ratio is presently 27.07%.
In related news, Director Howard E. Friedman sold 1,010 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $31.98, for a total value of $32,299.80. Following the completion of the transaction, the director now owns 10,990 shares in the company, valued at approximately $351,460.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 28.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. Alps Advisors Inc. boosted its position in shares of Sinclair Broadcast Group by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 11,636 shares of the company’s stock valued at $383,000 after purchasing an additional 30 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock valued at $202,000 after purchasing an additional 164 shares in the last quarter. Amalgamated Bank boosted its position in shares of Sinclair Broadcast Group by 3.1% during the 2nd quarter. Amalgamated Bank now owns 8,929 shares of the company’s stock valued at $294,000 after purchasing an additional 269 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock valued at $104,000 after purchasing an additional 273 shares in the last quarter. Finally, Sound Point Capital Management LP boosted its position in shares of Sinclair Broadcast Group by 0.3% during the 2nd quarter. Sound Point Capital Management LP now owns 300,622 shares of the company’s stock valued at $9,890,000 after purchasing an additional 895 shares in the last quarter. Hedge funds and other institutional investors own 84.80% of the company’s stock.
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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