The stock of Sinclair Broadcast Group Inc (NASDAQ:SBGI) is a huge mover today! About 1.13M shares traded hands or 0.89% up from the average. Sinclair Broadcast Group Inc (NASDAQ:SBGI) has declined 13.50% since March 7, 2016 and is downtrending. It has underperformed by 21.09% the S&P500.
The move comes after 7 months negative chart setup for the $2.61 billion company. It was reported on Oct, 10 by Barchart.com. We have $25.22 PT which if reached, will make NASDAQ:SBGI worth $234.90M less.
Analysts await Sinclair Broadcast Group Inc (NASDAQ:SBGI) to report earnings on November, 2. They expect $0.84 earnings per share, up 86.67% or $0.39 from last year’s $0.45 per share. SBGI’s profit will be $79.12 million for 8.25 P/E if the $0.84 EPS becomes a reality. After $0.52 actual earnings per share reported by Sinclair Broadcast Group Inc for the previous quarter, Wall Street now forecasts 61.54% EPS growth.
Sinclair Broadcast Group Inc (NASDAQ:SBGI) Ratings Coverage
Out of 4 analysts covering Sinclair Broadcast Group Inc (NASDAQ:SBGI), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Sinclair Broadcast Group Inc has been the topic of 8 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The rating was maintained by Wedbush on Friday, January 29 with “Outperform”. The stock of Sinclair Broadcast Group Inc (NASDAQ:SBGI) earned “Outperform” rating by Wedbush on Tuesday, September 27. The firm earned “Buy” rating on Thursday, November 5 by Benchmark. Stephens initiated Sinclair Broadcast Group Inc (NASDAQ:SBGI) on Wednesday, November 18 with “Equal-Weight” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, November 10 report.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.47, from 1.42 in 2016Q1. The ratio worsened, as 30 funds sold all Sinclair Broadcast Group Inc shares owned while 74 reduced positions. 32 funds bought stakes while 67 increased positions. They now own 64.03 million shares or 6.22% less from 68.27 million shares in 2016Q1.
Blackstone Gru L P accumulated 121,208 shares or 0.02% of the stock. Maplelane Capital Limited Liability Corporation has invested 0.38% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Moreover, Trexquant Invest Lp has 0.03% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 8,442 shares. State Street, a Massachusetts-based fund reported 1.19M shares. Moreover, Ubs Asset Mngmt Americas has 0% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 43,813 shares. Rbf Capital Ltd Company last reported 0.06% of its portfolio in the stock. Moreover, Visium Asset Mngmt Limited Partnership has 0.08% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 39,584 shares. Sg Americas Secs Limited Company holds 0.01% or 52,538 shares in its portfolio. Moreover, Hbk Invs Lp has 0.02% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 63,500 shares. Orinda Asset Mgmt Ltd Llc has 0.3% invested in the company for 8,672 shares. Clinton Gru accumulated 99,897 shares or 0.13% of the stock. Walleye Trading Limited Liability has invested 0.01% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI). Victory Capital Mngmt reported 10,071 shares or 0% of all its holdings. Kingdon Capital Mgmt Ltd Liability Corporation last reported 1.07% of its portfolio in the stock. Argent Cap Mngmt has 0.04% invested in the company for 26,575 shares.
Insider Transactions: Since October 5, 2016, the stock had 0 insider buys, and 1 insider sale for $57,260 net activity. 2,000 shares with value of $57,260 were sold by MCCANNA LAWRENCE E on Wednesday, October 5.
More notable recent Sinclair Broadcast Group Inc (NASDAQ:SBGI) news were published by: Fool.com which released: “Why Sinclair Broadcast Group Inc Stock Slipped Today” on September 20, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: McDonald’s, Group 1 Automotive and Sinclair Broadcast Group” published on August 26, 2016, Prnewswire.com published: “How These TV Broadcasters Stocks are Faring? — Grupo Televisa, Sinclair …” on October 10, 2016. More interesting news about Sinclair Broadcast Group Inc (NASDAQ:SBGI) were released by: Wsj.com and their article: “Sinclair Broadcast Group Expressed Interest in Acquiring Weather Channel” published on August 02, 2016 as well as Wsj.com‘s news article titled: “Sinclair Broadcast Group to Acquire Tennis Channel” with publication date: January 27, 2016.
SBGI Company Profile
Sinclair Broadcast Group, Inc., incorporated on November 19, 1986, is a television broadcasting company. The Firm owns or provides certain programming, operating or sales services to television stations in the United States. The Company’s divisions include Broadcast, Other and Corporate. The Broadcast segment consists of all of its television stations. The Other segment primarily consists of original networks and content, digital and Internet solutions, technical services and other non-media investments. The Firm owns and provides programming and operating services pursuant to local marketing agreements (LMAs), or provides sales services and other non-programming operating services pursuant to joint sales agreements (JSA) and shared services agreements (SSA) to approximately 160 stations in over 80 markets. These stations broadcast over 440 channels, including 215 channels affiliated with primary networks or program service providers comprising FOX (47), ABC (32), CBS (29), NBC (23), CW (44), MyNetworkTV (MNT) (34) and Univision (6). Over 230 channels broadcast programming from Antenna TV, American Sports Network (ASN), Azteca, Bounce Network, COMET, Decades, Estrella TV, Get TV, Grit, Heartland, Me TV, MundoFox, Retro TV, Telemundo, This TV, News & Weather, Zuus Country, and one channel broadcasts independent programming.
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