Sinclair Broadcast Group (NASDAQ:SBGI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other analysts have also recently weighed in on SBGI. ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Royal Bank of Canada restated a “buy” rating and issued a $48.00 price objective on shares of Sinclair Broadcast Group in a research note on Thursday, January 4th. Wells Fargo & Co restated an “outperform” rating and issued a $55.00 price objective on shares of Sinclair Broadcast Group in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Wednesday, October 4th. Finally, Jefferies Group began coverage on shares of Sinclair Broadcast Group in a research note on Thursday, December 14th. They set a “buy” rating and a $48.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $45.42.

Shares of Sinclair Broadcast Group (SBGI) opened at $35.60 on Wednesday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market cap of $3,620.00, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.93. Sinclair Broadcast Group has a one year low of $26.70 and a one year high of $43.05.

Sinclair Broadcast Group (NASDAQ:SBGI) last issued 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 23.27% and a net margin of 9.06%. The firm had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Sinclair Broadcast Group’s quarterly revenue was down 3.3% compared to the same quarter last year. equities research analysts predict that Sinclair Broadcast Group will post 1.98 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. grew its holdings in shares of Sinclair Broadcast Group by 436.6% in the 3rd quarter. Prudential Financial Inc. now owns 1,154,448 shares of the company’s stock worth $37,001,000 after purchasing an additional 939,289 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Sinclair Broadcast Group by 4,036.0% in the 2nd quarter. Royal Bank of Canada now owns 830,350 shares of the company’s stock worth $27,317,000 after purchasing an additional 810,274 shares during the last quarter. Nordea Investment Management AB bought a new stake in shares of Sinclair Broadcast Group in the 2nd quarter worth about $26,002,000. Russell Investments Group Ltd. grew its holdings in shares of Sinclair Broadcast Group by 980.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 842,172 shares of the company’s stock worth $26,992,000 after purchasing an additional 764,195 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Sinclair Broadcast Group by 15.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,729,416 shares of the company’s stock worth $151,576,000 after purchasing an additional 616,122 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Sinclair Broadcast Group (SBGI) Downgraded by BidaskClub to Hold” was originally posted by Watch List News and is owned by of Watch List News. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.watchlistnews.com/sinclair-broadcast-group-sbgi-downgraded-by-bidaskclub-to-hold/1800646.html.

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.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with Analyst Ratings Network's FREE daily email newsletter.