BidaskClub downgraded shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a strong-buy rating to a buy rating in a report published on Tuesday, BidAskClub reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Sinclair Broadcast Group from a hold rating to a buy rating and set a $49.00 price objective for the company in a research report on Saturday, April 13th. Wolfe Research raised Sinclair Broadcast Group from an underperform rating to an outperform rating in a research report on Wednesday, April 3rd. B. Riley raised their price objective on Sinclair Broadcast Group from $38.00 to $46.00 and gave the company a neutral rating in a research report on Tuesday, April 30th. Benchmark raised their price objective on Sinclair Broadcast Group from $45.00 to $90.00 and gave the company a buy rating in a research report on Tuesday, May 7th. Finally, Evercore ISI raised Sinclair Broadcast Group from an in-line rating to an outperform rating and set a $61.00 price objective for the company in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $48.67.

Shares of SBGI stock opened at $51.80 on Tuesday. Sinclair Broadcast Group has a 52 week low of $25.13 and a 52 week high of $66.57. The firm has a market capitalization of $4.66 billion, a P/E ratio of 15.46 and a beta of 1.25. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 2.66.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.16). The firm had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $707.94 million. Sinclair Broadcast Group had a net margin of 10.28% and a return on equity of 20.45%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Sell-side analysts anticipate that Sinclair Broadcast Group will post 2.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, May 30th. Sinclair Broadcast Group’s dividend payout ratio is currently 23.88%.

In other news, Director Robert E. Smith sold 143,002 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $38.58, for a total transaction of $5,517,017.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman David B. Amy sold 22,032 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $38.38, for a total value of $845,588.16. The disclosure for this sale can be found here. Insiders have sold 178,284 shares of company stock valued at $7,112,290 in the last three months. Insiders own 29.24% of the company’s stock.

Several large investors have recently modified their holdings of SBGI. Oppenheimer Asset Management Inc. bought a new position in shares of Sinclair Broadcast Group during the fourth quarter valued at $103,000. Xact Kapitalforvaltning AB increased its holdings in shares of Sinclair Broadcast Group by 10.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 12,667 shares of the company’s stock valued at $334,000 after acquiring an additional 1,200 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Sinclair Broadcast Group by 36.2% during the fourth quarter. Rhumbline Advisers now owns 103,491 shares of the company’s stock valued at $2,726,000 after acquiring an additional 27,485 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Sinclair Broadcast Group by 108.0% during the fourth quarter. SG Americas Securities LLC now owns 63,003 shares of the company’s stock valued at $1,659,000 after acquiring an additional 32,706 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Sinclair Broadcast Group by 15.2% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,217 shares of the company’s stock valued at $1,138,000 after acquiring an additional 5,701 shares in the last quarter. Hedge funds and other institutional investors own 65.02% of the company’s stock.

About Sinclair Broadcast Group

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating services to television stations. The company 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 internally originated programming to television viewing audiences in the communities through its local television stations.

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Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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