Sinclair Broadcast Group (NASDAQ:SBGI – Get Rating) issued its earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.35) by $3.18, Briefing.com reports. The business had revenue of $837.00 million for the quarter, compared to the consensus estimate of $839.76 million. During the same period in the previous year, the firm earned ($4.03) EPS. The company’s revenue was down 48.1% compared to the same quarter last year. Sinclair Broadcast Group updated its Q3 2022 guidance to EPS.
Sinclair Broadcast Group Price Performance
SBGI traded down $0.25 during trading on Friday, reaching $22.98. The stock had a trading volume of 666,390 shares, compared to its average volume of 814,780. The stock has a market cap of $1.65 billion, a PE ratio of 0.67 and a beta of 1.32. The company has a debt-to-equity ratio of 6.20, a quick ratio of 2.43 and a current ratio of 2.43. Sinclair Broadcast Group has a one year low of $18.89 and a one year high of $33.62. The business has a 50-day moving average of $21.64 and a 200-day moving average of $24.56.
Sinclair Broadcast Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 4.35%. Sinclair Broadcast Group’s dividend payout ratio is presently 2.92%.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on SBGI shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sinclair Broadcast Group from $31.00 to $28.00 in a report on Monday, May 23rd. Wells Fargo & Company raised shares of Sinclair Broadcast Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $33.00 in a report on Thursday, May 5th. StockNews.com cut shares of Sinclair Broadcast Group from a “buy” rating to a “hold” rating in a report on Thursday. Rosenblatt Securities initiated coverage on shares of Sinclair Broadcast Group in a report on Tuesday, April 19th. They issued a “neutral” rating and a $21.00 price target on the stock. Finally, TheStreet raised shares of Sinclair Broadcast Group from a “d+” rating to a “c” rating in a report on Wednesday, June 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.00.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc operates as a media company in the United States. The company operates in two segments, Broadcast and Local Sports. The Broadcast segment 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 programming to television viewing audiences in the communities through its local television stations.
- Get a free copy of the StockNews.com research report on Sinclair Broadcast Group (SBGI)
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