The stock of Sinclair Broadcast Group Inc (NASDAQ:SBGI) hit a new 52-week low and has $23.83 target or 8.00% below today’s $25.90 share price. The 9 months bearish chart indicates high risk for the $2.41B company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $23.83 price target is reached, the company will be worth $192.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 234,843 shares traded hands. Sinclair Broadcast Group Inc (NASDAQ:SBGI) has declined 21.57% since March 14, 2016 and is downtrending. It has underperformed by 27.18% the S&P500.
Analysts await Sinclair Broadcast Group Inc (NASDAQ:SBGI) to report earnings on November, 2. They expect $0.84 EPS, up 86.67% or $0.39 from last year’s $0.45 per share. SBGI’s profit will be $78.16M for 7.71 P/E if the $0.84 EPS becomes a reality. After $0.52 actual EPS 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. On Tuesday, November 10 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock has “Outperform” rating given by Wedbush on Tuesday, September 27. As per Wednesday, November 18, the company rating was initiated by Stephens. The rating was maintained by Benchmark on Thursday, November 5 with “Buy”. Wedbush maintained the shares of SBGI in a report on Friday, January 29 with “Outperform” rating.
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 2016 Q2. 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.
Federated Investors Inc Pa has 0.05% invested in the company for 517,775 shares. Penn Management accumulated 516,432 shares or 0.88% of the stock. Swiss Retail Bank last reported 0.01% of its portfolio in the stock. Blackrock Advsrs Llc has 0% invested in the company for 155,976 shares. Citadel Limited Liability Corporation accumulated 0.06% or 1.66 million shares. Moreover, Goldman Sachs Gru has 0.01% invested in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 857,699 shares. Capstone Invest Advisors Ltd Liability Corporation owns 21,600 shares or 0.01% of their US portfolio. Origin Asset Mgmt Ltd Liability Partnership holds 1.19% of its portfolio in Sinclair Broadcast Group Inc (NASDAQ:SBGI) for 595,274 shares. Meeder Asset Management has 1,000 shares for 0% of their US portfolio. Comml Bank Of New York Mellon owns 4.35M shares or 0.04% of their US portfolio. Phoenix Invest Adviser Limited Liability Corp accumulated 26,000 shares or 0.72% of the stock. Hennessy has 1.07% invested in the company for 1.18M shares. Delphi Mgmt Ma, a Massachusetts-based fund reported 69,210 shares. Spot Trading Limited Company has 44,696 shares for 0.02% of their US portfolio. Aqr holds 0.01% or 130,098 shares in its portfolio.
Insider Transactions: Since October 5, 2016, the stock had 0 insider purchases, and 1 insider sale for $57,260 net activity. Shares for $57,260 were sold by MCCANNA LAWRENCE E on Wednesday, October 5.
More 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 published the news titled: “Ex-Dividend Reminder: McDonald’s, Group 1 Automotive and Sinclair Broadcast Group” on August 26, 2016. Prnewswire.com‘s news article titled: “Sinclair Broadcast Group Enters Into Retransmission Consent Agreement With Comcast” with publication date: August 03, 2016 was also an interesting one.
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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