Gabelli Weighs in on Sinclair Broadcast Group’s FY2018 Earnings (SBGI)
Sinclair Broadcast Group (NASDAQ:SBGI) – Analysts at Gabelli cut their FY2018 EPS estimates for Sinclair Broadcast Group in a note issued to investors on Wednesday, April 25th. Gabelli analyst B. Lucas now anticipates that the company will earn $2.98 per share for the year, down from their prior estimate of $3.24. Gabelli also issued estimates for Sinclair Broadcast Group’s FY2022 earnings at $3.44 EPS.
SBGI has been the topic of a number of other reports. BidaskClub upgraded shares of Sinclair Broadcast Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 27th. Stephens set a $47.00 target price on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research downgraded shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a report on Friday, February 9th. Royal Bank of Canada restated a “buy” rating and issued a $48.00 target price on shares of Sinclair Broadcast Group in a report on Thursday, January 4th. Finally, ValuEngine upgraded shares of Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Sinclair Broadcast Group currently has an average rating of “Buy” and a consensus price target of $46.64.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, February 28th. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $1.07. Sinclair Broadcast Group had a net margin of 21.07% and a return on equity of 22.76%. The firm had revenue of $734.00 million for the quarter, compared to the consensus estimate of $733.41 million. During the same period in the previous year, the firm posted $1.32 EPS. The business’s quarterly revenue was down 8.0% on a year-over-year basis.
A number of large investors have recently modified their holdings of SBGI. Advisor Group Inc. grew its holdings in Sinclair Broadcast Group by 102.2% during the 4th quarter. Advisor Group Inc. now owns 3,251 shares of the company’s stock valued at $124,000 after purchasing an additional 1,643 shares during the last quarter. Parametrica Management Ltd bought a new position in Sinclair Broadcast Group during the 4th quarter valued at about $207,000. Virtu Financial LLC bought a new position in Sinclair Broadcast Group during the 4th quarter valued at about $219,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sinclair Broadcast Group by 28.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,843 shares of the company’s stock valued at $259,000 after purchasing an additional 1,497 shares during the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Sinclair Broadcast Group during the 4th quarter valued at about $275,000. Institutional investors own 87.22% of the company’s stock.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.
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