Opinion

What Wall Street is saying about Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) stock is presently standing at about $41.25 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 5 analysts covering the company is $45.00, which suggests the stock could still rise over 8 percent. The highest analyst price target is $47.00, which implies a rally of 86 percent. And a quick view of analyst notes show that 3 are rating the stock a buy while 3 rate SBGI a strong buy. There are 1 equity research firms advocating a Hold and 0 consider it Sell.

Gabelli & Co analysts provided their view on Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) recently. The rating firm issued a Buy rating to this company in a research note released on Feb 13, 2014. Furey Research Partners analysts disclosed their opinion on Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) recently. The rating firm gave a Buy rating to this stock in a research note published on Jan 23, 2014. According to a research note disclosed on Aug 24, 2009, analysts at Benchmark have upped their rating on these shares from Hold to Buy.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Transactions Roundup

Several insiders were part of recent insider activity for the stock. Its Director LEADER MARTIN R sold 10,000 company shares for 411600, in a transaction on 2017-03-02. Following the transaction, the Director is left with a stake of 55,594 shares, currently valued at $2293253. Meanwhile, Chief Accounting Officer BOCHENEK DAVID R sold 5,000 shares worth $206900, through a transaction dated 2017-03-02. Following the completion of the transaction, the insider is left with a stake of 7,155 shares, amounting $295143.75. SBGI SVP CFO & Treasurer RUTISHAUSER LUCY also sold 2,437 shares, at a stock price of $41.22. This transaction occurred on 2017-03-02 totals $100450. After this transaction, the insider’s stake stands at 20,222 shares, with a market value of $834158.

Executives hold 32.30 percent of the stock. Robert E. Smith is one of the biggest insider owners in Sinclair Broadcast Group, Inc. (NASDAQ:SBGI), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 6,337,806 shares which have current market value of around $261434497.5.David B. Amy is another major inside shareholder in the company. The insider owns 167,630 shares as of 0.19%, currently worth $6914737.5. J. Duncan Smith is ranked as third insider holder of the stock. This insider holds 80,185 shares with a market value around $3307631.25 as of recent close.

Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) Earnings Outlook

In Sinclair Broadcast Group, Inc. (NASDAQ:SBGI)’s latest quarter, EPS moved to $1.32 from $0.79 in preceding quarter and revenues reached at $797.69M compared to $693.84M. Analysts had expected Sinclair Broadcast Group, Inc. (NASDAQ:SBGI) to post net income of about $1.36 per share on $806.89M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $0.30 to $0.33. That is compared with the $0.23 in EPS it reported during the same period a year ago.

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