Sinclair Broadcast Group Inc (SBGI) was Reiterated by Wedbush to “Outperform” while Lowering the Price Target of the company shares to $ 36 from a previous price target of $37 . Wedbush advised their investors in a research report released on Sep 27, 2016.
On the company’s financial health, Sinclair Broadcast Group Inc reported $0.52 EPS for the quarter, based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus estimate of $0.52. The company had revenue of $666.50 million for the quarter, compared to analysts expectations of $658.41 million. The company’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.
Sinclair Broadcast Group Inc opened for trading at $25.91 and hit $26.61 on the upside on Thursday, eventually ending the session at $26.26, with a gain of 1.35% or 0.35 points. The heightened volatility saw the trading volume jump to 21,69,428 shares. Company has a market cap of $2,480 M.
In a different news, on Mar 15, 2016, Barry Faber (Exec. VP & General Counsel) sold 14,417 shares at $32.86 per share price. According to the SEC, on Jan 11, 2016, Martin R Leader (director) sold 1,000 shares at $30.71 per share price. On Nov 9, 2015, Lucy Rutishauser (SVP Corp. Finance & Treasurer) sold 2,334 shares at $33.50 per share price, according to the Form-4 filing with the securities and exchange commission.
Sinclair Broadcast Group Inc. is a television broadcasting company. The Company owns or provides certain programming operating or sales services to various television stations in the United States. The Company owns and provides programming and operating services or provides sales services and other non-programming operating services pursuant to contracts to around 164 stations in 79 markets. These stations broadcast around 373 channels including 211 channels affiliated with primary networks or program service providers comprising FOX (46) ABC (33) CBS (29) NBC (21) CW (44) MNT (33) and Univision (5). The other 162 channels broadcast programming from This TV Me TV GetTV Grit Weather Radar Weather Nation Live Well Network Antenna TV Bounce Network Heartland and Retro TV among others and one channel broadcasts independent programming. The Company operates under broadcast segment. Its broadcast segment consists of all of its television stations.