According to Zacks, “Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. “
Several other brokerages have also weighed in on SBGI. TheStreet lowered Sinclair Broadcast Group from a “b” rating to a “c” rating in a report on Monday, December 9th. ValuEngine upgraded Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 4th. BidaskClub downgraded Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Friday, January 24th. Stephens reduced their target price on Sinclair Broadcast Group from $80.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. assumed coverage on Sinclair Broadcast Group in a report on Friday, December 13th. They set a “neutral” rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Sinclair Broadcast Group presently has an average rating of “Hold” and an average price target of $53.00.
Shares of Sinclair Broadcast Group stock opened at $29.78 on Thursday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 7.53. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 7.10 and a beta of 1.04. The business has a fifty day simple moving average of $31.60 and a 200-day simple moving average of $38.37. Sinclair Broadcast Group has a fifty-two week low of $28.45 and a fifty-two week high of $66.57.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. acquired a new stake in Sinclair Broadcast Group in the first quarter valued at approximately $200,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Sinclair Broadcast Group by 65.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,417 shares of the company’s stock valued at $291,000 after acquiring an additional 2,151 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Sinclair Broadcast Group in the third quarter valued at approximately $976,000. Rhumbline Advisers raised its holdings in Sinclair Broadcast Group by 0.5% in the third quarter. Rhumbline Advisers now owns 65,246 shares of the company’s stock valued at $2,789,000 after acquiring an additional 308 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. increased its stake in Sinclair Broadcast Group by 38.9% in the third quarter. Waratah Capital Advisors Ltd. now owns 16,744 shares of the company’s stock valued at $716,000 after purchasing an additional 4,685 shares during the last quarter. 63.82% of the stock is owned by institutional investors and hedge funds.
Sinclair Broadcast Group Company Profile
Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, sales, and other non-programming operating 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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