BidaskClub cut shares of Sinclair Broadcast Group (NASDAQ:SBGI) from a strong-buy rating to a buy rating in a report issued on Thursday.

SBGI has been the subject of several other reports. ValuEngine raised shares of Sinclair Broadcast Group from a hold rating to a buy rating in a report on Monday, December 4th. Ameriprise Financial reaffirmed a buy rating and set a $45.00 price objective (up from $43.00) on shares of Sinclair Broadcast Group in a report on Friday, November 3rd. Zacks Investment Research raised 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 report on Wednesday, October 4th. Wells Fargo & Co reaffirmed an outperform rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Finally, Jefferies Group began coverage on shares of Sinclair Broadcast Group in a report on Thursday, December 14th. They set a buy rating and a $48.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $45.42.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) traded down $0.25 on Thursday, hitting $35.10. 2,193,200 shares of the stock traded hands, compared to its average volume of 1,195,182. Sinclair Broadcast Group has a 52 week low of $26.70 and a 52 week high of $43.05. The firm has a market cap of $3,571.11, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.96 and a beta of 1.93. 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 announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.13). The business had revenue of $670.90 million for the quarter, compared to analyst estimates of $671.42 million. Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. research analysts anticipate that Sinclair Broadcast Group will post 1.98 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio is currently 27.07%.

A number of institutional investors have recently modified their holdings of SBGI. Schwab Charles Investment Management Inc. boosted its holdings in Sinclair Broadcast Group by 74.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 910,582 shares of the company’s stock valued at $29,959,000 after purchasing an additional 388,636 shares during the period. First Trust Advisors LP boosted its holdings in Sinclair Broadcast Group by 16.7% in the 2nd quarter. First Trust Advisors LP now owns 57,104 shares of the company’s stock valued at $1,879,000 after purchasing an additional 8,171 shares during the period. Rhumbline Advisers boosted its holdings in Sinclair Broadcast Group by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 88,629 shares of the company’s stock valued at $2,916,000 after purchasing an additional 4,580 shares during the period. Legal & General Group Plc boosted its holdings in Sinclair Broadcast Group by 4.7% in the 2nd quarter. Legal & General Group Plc now owns 29,323 shares of the company’s stock valued at $966,000 after purchasing an additional 1,321 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Sinclair Broadcast Group by 2.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 47,930 shares of the company’s stock valued at $1,577,000 after purchasing an additional 1,250 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

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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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