Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Sinclair Broadcast Group (SBGI) Stock Price
News coverage about Sinclair Broadcast Group (NASDAQ:SBGI) has trended somewhat positive on Thursday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sinclair Broadcast Group earned a media sentiment score of 0.02 on Accern’s scale. Accern also gave press coverage about the company an impact score of 46.6092498494096 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
A number of analysts have recently weighed in on the stock. Benchmark Co. raised their price target on shares of Sinclair Broadcast Group from $52.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company restated an “outperform” rating and issued a $55.00 price target on shares of Sinclair Broadcast Group in a report on Monday, October 2nd. Zacks Investment Research cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. B. Riley raised their price target on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, FBR & Co assumed coverage on shares of Sinclair Broadcast Group in a report on Tuesday, October 31st. They issued a “buy” rating and a $43.00 price target on the stock. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $44.82.
Sinclair Broadcast Group (SBGI) traded down $0.30 during mid-day trading on Thursday, reaching $31.10. 1,014,900 shares of the company were exchanged, compared to its average volume of 1,724,114. The firm has a market cap of $3,340.00, a PE ratio of 13.25, a PEG ratio of 7.85 and a beta of 1.92. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51. 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 released its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The company had revenue of $670.90 million during the quarter, compared to analyst estimates of $671.42 million. Sinclair Broadcast Group had a return on equity of 10.68% and a net margin of 4.85%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.54 earnings per share. sell-side analysts anticipate that Sinclair Broadcast Group will post 2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, November 30th. Sinclair Broadcast Group’s dividend payout ratio (DPR) is presently 27.07%.
In related news, Director Howard E. Friedman sold 1,010 shares of Sinclair Broadcast Group stock in a transaction that occurred on 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 sale, the director now directly owns 10,990 shares in the company, valued at approximately $351,460.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.20% of the stock is owned by company insiders.
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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