Royal Bank of Canada restated their buy rating on shares of Sinclair Broadcast Group (NASDAQ:SBGI) in a research note issued to investors on Thursday, January 4th. The brokerage currently has a $48.00 target price on the stock.

SBGI has been the topic of a number of other reports. BidaskClub raised Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Thursday, December 14th. ValuEngine raised Sinclair Broadcast Group from a hold rating to a buy rating in a research note on Monday, December 4th. Ameriprise Financial reaffirmed a buy rating and set a $45.00 price objective (up from $43.00) on shares of Sinclair Broadcast Group in a research report on Friday, November 3rd. Zacks Investment Research raised Sinclair Broadcast Group from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co reaffirmed an outperform rating and set a $55.00 price objective on shares of Sinclair Broadcast Group in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $45.50.

Shares of Sinclair Broadcast Group (NASDAQ:SBGI) opened at $38.85 on Thursday. Sinclair Broadcast Group has a 12 month low of $26.70 and a 12 month high of $43.05. The company has a market capitalization of $3,950.00, a price-to-earnings ratio of 14.61, a PEG ratio of 2.15 and a beta of 1.93. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 3.51.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its earnings results on Wednesday, November 1st. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). Sinclair Broadcast Group had a return on equity of 23.27% and a net margin of 9.06%. The company had revenue of $670.90 million during the quarter, compared to analysts’ expectations of $671.42 million. During the same period in the prior year, the company posted $0.54 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. equities research analysts anticipate that Sinclair Broadcast Group will post 1.98 EPS for the current year.

A number of large investors have recently made changes to their positions in SBGI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sinclair Broadcast Group by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,170 shares of the company’s stock worth $104,000 after purchasing an additional 273 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Sinclair Broadcast Group in the second quarter worth about $141,000. FNY Managed Accounts LLC purchased a new position in Sinclair Broadcast Group in the third quarter worth about $153,000. Cheyne Capital Management UK LLP purchased a new position in Sinclair Broadcast Group in the third quarter worth about $170,000. Finally, Rational Advisors LLC purchased a new position in Sinclair Broadcast Group in the third quarter worth about $234,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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Sinclair Broadcast Group Company Profile

Sinclair Broadcast Group, Inc is a television broadcasting company. The Company focuses on providing content on its local television stations and digital platforms. The Company’s segments are broadcast, other and corporate. The Broadcast segment consists of its broadcast television stations. The content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, it owns networks, and other original programming produced by it.

Analyst Recommendations for Sinclair Broadcast Group (NASDAQ:SBGI)

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