FY2020 EPS Estimates for Sinclair Broadcast Group Inc. Decreased by Analyst (SBGI)

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Sinclair Broadcast Group Inc. (NASDAQ:SBGI) – Stock analysts at Gabelli dropped their FY2020 earnings per share estimates for Sinclair Broadcast Group in a research report issued on Wednesday. Gabelli analyst B. Lucas now anticipates that the brokerage will post earnings per share of $4.10 for the year, down from their previous forecast of $4.29.
Sinclair Broadcast Group (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Sinclair Broadcast Group had a net margin of 7.28% and a return on equity of 34.76%. The company had revenue of $666.50 million for the quarter, compared to analyst estimates of $658.61 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis.
Separately, Zacks Investment Research upgraded shares of Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Sinclair Broadcast Group has a consensus rating of “Buy” and a consensus target price of $37.59.

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Sinclair Broadcast Group (NASDAQ:SBGI) traded up 1.51% during midday trading on Thursday, reaching $26.30. 2,010,632 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $28.75 and its 200-day moving average price is $30.48. Sinclair Broadcast Group has a 1-year low of $24.80 and a 1-year high of $35.89. The company has a market capitalization of $2.48 billion, a PE ratio of 14.37 and a beta of 1.78.
Several large investors have recently made changes to their positions in SBGI. BlackRock Group LTD raised its stake in shares of Sinclair Broadcast Group by 25.1% in the first quarter. BlackRock Group LTD now owns 41,978 shares of the company’s stock worth $1,290,000 after buying an additional 8,412 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Sinclair Broadcast Group by 17.5% in the first quarter. Glenmede Trust Co. NA now owns 1,127,871 shares of the company’s stock valued at $34,681,000 after buying an additional 167,925 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Sinclair Broadcast Group by 1,736.6% in the first quarter. Prudential Financial Inc. now owns 118,661 shares of the company’s stock valued at $3,649,000 after buying an additional 112,200 shares in the last quarter. HBK Investments L P raised its stake in shares of Sinclair Broadcast Group by 719.3% in the first quarter. HBK Investments L P now owns 90,123 shares of the company’s stock valued at $2,771,000 after buying an additional 79,123 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in shares of Sinclair Broadcast Group by 1.5% in the first quarter. Teachers Advisors Inc. now owns 122,624 shares of the company’s stock valued at $3,771,000 after buying an additional 1,852 shares in the last quarter. Institutional investors and hedge funds own 69.55% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.18 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.78%. Sinclair Broadcast Group’s payout ratio is 39.34%.
About Sinclair Broadcast Group
Sinclair Broadcast Group, Inc is a television broadcasting company. The Company owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s segments include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations.

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