Sinclair Broadcast (SBGI) Receives a Hold from B.Riley FBR

By Ryan Adsit

B.Riley FBR analyst Zachary Silver maintained a Hold rating on Sinclair Broadcast (SBGIResearch Report) yesterday and set a price target of $46. The company’s shares closed yesterday at $45.79, close to its 52-week high of $46.16.

According to TipRanks.com, Silver is a 4-star analyst with an average return of 11.3% and a 84.0% success rate. Silver covers the Services sector, focusing on stocks such as Entercom Communications, Nexstar Media Group Inc, and GCI Liberty Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sinclair Broadcast with a $43 average price target.

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Based on Sinclair Broadcast’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $206 million. In comparison, last year the company had a net profit of $43.12 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock.

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Sinclair Broadcast Group, Inc. is a television broadcasting company, which engages in the provision of content on local television stations and digital and other platforms. It operates through Broadcast segment. The Broadcast segment provides free over-the-air programming to television viewing audiences in the communities through local television stations.