Sinclair Broadcast Group (NASDAQ:SBGI) had its price target cut by analysts at Royal Bank of Canada from $38.00 to $34.00 in a report issued on Friday. The brokerage presently has a “buy” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 21.86% from the stock’s current price.

Several other research firms also recently issued reports on SBGI. Wells Fargo & Co dropped their price target on shares of Sinclair Broadcast Group from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 18th. BidaskClub downgraded shares of Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Evercore ISI initiated coverage on shares of Sinclair Broadcast Group in a research note on Tuesday, July 31st. They set an “in-line” rating and a $34.00 price target on the stock. TheStreet raised shares of Sinclair Broadcast Group from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Finally, Stephens set a $35.00 price target on shares of Sinclair Broadcast Group and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. Sinclair Broadcast Group currently has a consensus rating of “Hold” and an average target price of $41.18.

Shares of Sinclair Broadcast Group traded up $0.10, hitting $27.90, during midday trading on Friday, MarketBeat reports. 2,938,145 shares of the company’s stock traded hands, compared to its average volume of 2,677,596. The company has a current ratio of 2.96, a quick ratio of 2.90 and a debt-to-equity ratio of 2.44. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 5.06 and a beta of 1.59. Sinclair Broadcast Group has a twelve month low of $25.13 and a twelve month high of $40.15.

Sinclair Broadcast Group (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 8th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.25. The business had revenue of $730.10 million for the quarter, compared to analyst estimates of $715.55 million. Sinclair Broadcast Group had a net margin of 19.47% and a return on equity of 19.12%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 EPS. analysts predict that Sinclair Broadcast Group will post 2.75 earnings per share for the current year.

In related news, Director Lawrence E. Mccanna sold 2,000 shares of Sinclair Broadcast Group stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $32.26, for a total transaction of $64,520.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 29.24% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of Sinclair Broadcast Group in the 1st quarter worth about $151,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Sinclair Broadcast Group in the 2nd quarter worth about $157,000. Clinton Group Inc. bought a new stake in shares of Sinclair Broadcast Group in the 1st quarter worth about $211,000. Silvant Capital Management LLC bought a new stake in shares of Sinclair Broadcast Group in the 1st quarter worth about $221,000. Finally, GWM Advisors LLC bought a new stake in shares of Sinclair Broadcast Group in the 1st quarter worth about $239,000. 85.13% of the stock is owned by institutional investors.

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.

Featured Story: Trading Strategy Methods for Individual Investors

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

Receive News & Ratings for Sinclair Broadcast Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair Broadcast Group and related companies with MarketBeat.com's FREE daily email newsletter.