Sinclair Broadcast Group, Inc. (NASDAQ:SBGI):
CBS and Sinclair Broadcast Group, Inc. Announce Affiliation Agreement Renewals.
In the market the company is trading up by 1.68 percent from yesterday’s close.
Additionally the company recently declared a dividend for shareholders to be paid on Thursday June 15th, 2017. The dividend will be $0.180 per share for the quarter which is $0.72 annualized. The dividend yield will be $2.10. The ex-dividend date is set for Tuesday the 30th of May 2017.
Sinclair Broadcast Group, Inc., launched on November 19, 1986, 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 content distributed through its broadcast platform consists of programming provided by third-party networks and syndicators, local news, its owns networks, and other original programming produced by it. The Company also owns digital and Internet media products that are complementary to its portfolio of television station related digital properties. It focuses on offering marketing solutions to advertisers through its television and digital platforms and digital agency services. Its other business consists of original networks and content, digital and Internet solutions, technical services and other non-media investments. It operates technical services companies, which focuses on supply and maintenance of broadcast transmission systems, as well as research and development for the advancement of broadcast technology, and it manages other non-media related investments..
Shares last traded at $34.83 barely below the 50 day moving average of $35.42 and which is just a bit below the 200 day moving average of $35.97. The 50 day moving average went down by -1.89% and the 200 day average went down by -3.40%.
Sinclair Broadcast Group, Inc. currently has a P/E ratio of 11.71 and the market cap is 3.57B. In the latest earnings report the EPS was $2.97 and is estimated to be $2.04 for the current year with 102,644,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.48 and the next full year EPS is anticipated to be $3.10.
Traders are a little more bearish on shares of Sinclair Broadcast Group, Inc. lately if you watch the uptick in short interest. The firm realized a rise in short interest of 10.75% as of May 31, 2017 from the last reporting period. Short interest increased 959,953 over that timeframe. With short interest at 9,885,782 and short average daily volume at 2,550,606, the short-interest ratio is 3.9 and the percentage of shorted shares was 0.10% on May 31.
Wall Street analysts have released ratings on the company. On November 3 the company was upgraded to “Overweight” from “Equal-weight” in a report issued by Stephens & Co.. On November 18, 2015 Stephens & Co. started coverage with an initial rating of “Equal-weight” and setting a price target of $37.00.
On July 29 Benchmark left the company rating at “Buy” but moved up the price target to $37.00 from $35.00. November 6 investment analysts at JP Morgan made no change to the company rating of “Neutral” but lowered the price target from $35.00 to $31.00.
On April 28 Evercore Partners kept the company rating at “Overweight” and moved down the price target from $37.00 to $36.00. On April 9 the stock rating was upgraded from “Market Perform” to “Outperform” in a statement from Wells Fargo.