Wall Street analysts predict that Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) will post sales of $734.67 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Sinclair Broadcast Group’s earnings, with the lowest sales estimate coming in at $728.00 million and the highest estimate coming in at $745.22 million. Sinclair Broadcast Group reported sales of $797.69 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.9%. The firm is scheduled to report its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Sinclair Broadcast Group will report full-year sales of $734.67 million for the current financial year, with estimates ranging from $2.73 billion to $2.76 billion. For the next year, analysts expect that the firm will post sales of $3.06 billion per share, with estimates ranging from $3.02 billion to $3.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Sinclair Broadcast Group.

Sinclair Broadcast Group (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 1st. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). The firm 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 company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 EPS.

A number of equities research analysts recently issued reports on SBGI shares. Ameriprise Financial reiterated a “buy” rating and set a $45.00 target price (up previously from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. B. Riley increased their target price on shares of Sinclair Broadcast Group from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. FBR & Co started coverage on shares of Sinclair Broadcast Group in a research report on Tuesday, October 31st. They set a “buy” rating and a $43.00 target price for the company. Deutsche Bank started coverage on shares of Sinclair Broadcast Group in a research report on Friday, October 20th. They set a “buy” rating and a $46.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Wednesday, October 4th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Sinclair Broadcast Group presently has a consensus rating of “Buy” and an average price target of $45.17.

In other Sinclair Broadcast Group news, Director Howard E. Friedman sold 1,010 shares of the firm’s stock in a transaction dated 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 owns 10,990 shares in the company, valued at approximately $351,460.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 28.20% of the company’s stock.

Several large investors have recently modified their holdings of SBGI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sinclair Broadcast Group by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after acquiring an additional 273 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Sinclair Broadcast Group during the 2nd quarter worth approximately $141,000. FNY Managed Accounts LLC bought a new position in Sinclair Broadcast Group during the 3rd quarter worth approximately $153,000. Teacher Retirement System of Texas boosted its stake in Sinclair Broadcast Group by 2.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,141 shares of the company’s stock worth $202,000 after acquiring an additional 164 shares during the last quarter. Finally, Rational Advisors LLC bought a new position in Sinclair Broadcast Group during the 3rd quarter worth approximately $234,000. Institutional investors own 84.76% of the company’s stock.

Shares of Sinclair Broadcast Group (NASDAQ SBGI) opened at $38.20 on Friday. The stock has a market cap of $3,920.00, a PE ratio of 14.36, a P/E/G ratio of 3.25 and a beta of 1.92. 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 has a 1 year low of $26.70 and a 1 year high of $43.05.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.88%. The ex-dividend date was Thursday, November 30th. Sinclair Broadcast Group’s payout ratio is presently 27.07%.

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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.

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Earnings History and Estimates for Sinclair Broadcast Group (NASDAQ:SBGI)

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