Jefferies Group started coverage on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price objective on the stock.

A number of other analysts have also weighed in on SBGI. ValuEngine lowered shares of Sinclair Broadcast Group from a buy rating to a hold rating in a research note on Monday, September 11th. Wells Fargo & Company reiterated 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 on the stock in a research note on Wednesday, October 4th. Deutsche Bank initiated coverage on shares of Sinclair Broadcast Group in a research note on Friday, October 20th. They issued a buy rating and a $46.00 price objective on the stock. Finally, FBR & Co initiated coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, October 31st. They issued a buy rating and a $43.00 price objective on the stock. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $45.17.

Sinclair Broadcast Group (SBGI) traded up $0.70 during midday trading on Thursday, hitting $37.35. 1,811,400 shares of the company’s stock were exchanged, compared to its average volume of 1,702,119. The stock has a market capitalization of $3,800.03, a PE ratio of 15.76, a P/E/G ratio of 9.34 and a beta of 1.92. Sinclair Broadcast Group has a fifty-two week low of $26.70 and a fifty-two week high of $43.05. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 3.51.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.13). The company had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. sell-side analysts forecast that Sinclair Broadcast Group will post 1.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.72 annualized dividend 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 firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $31.98, for a total transaction of $32,299.80. Following the sale, the director now owns 10,990 shares in the company, valued at $351,460.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 28.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SBGI. Bank of New York Mellon Corp grew its position in shares of Sinclair Broadcast Group by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 7,883,606 shares of the company’s stock valued at $252,669,000 after purchasing an additional 132,422 shares during the period. Vanguard Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 8.5% in the second quarter. Vanguard Group Inc. now owns 6,620,686 shares of the company’s stock worth $217,820,000 after buying an additional 520,001 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Sinclair Broadcast Group by 15.0% in the third quarter. Principal Financial Group Inc. now owns 4,729,416 shares of the company’s stock worth $151,576,000 after buying an additional 616,122 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sinclair Broadcast Group by 7.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,078,562 shares of the company’s stock worth $66,615,000 after buying an additional 140,286 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Sinclair Broadcast Group by 10.5% in the second quarter. Renaissance Technologies LLC now owns 1,515,177 shares of the company’s stock worth $49,849,000 after buying an additional 143,606 shares in the last quarter. Institutional investors own 84.80% of the company’s stock.

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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.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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