Sinclair Broadcast Group Inc (SBGI) Plans $0.20 Quarterly Dividend

Sinclair Broadcast Group Inc (NASDAQ:SBGI) announced a quarterly dividend on Thursday, February 28th, Wall Street Journal reports. Investors of record on Monday, March 11th will be given a dividend of 0.20 per share on Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, March 8th.

Sinclair Broadcast Group has raised its dividend by an average of 3.9% per year over the last three years and has increased its dividend every year for the last 7 years. Sinclair Broadcast Group has a payout ratio of 31.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sinclair Broadcast Group to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 44.9%.

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SBGI stock opened at $36.10 on Friday. Sinclair Broadcast Group has a fifty-two week low of $25.13 and a fifty-two week high of $36.52. The firm has a market cap of $3.20 billion, a P/E ratio of 12.89 and a beta of 1.38. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 2.43.

Sinclair Broadcast Group (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 27th. The company reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.12. Sinclair Broadcast Group had a return on equity of 19.79% and a net margin of 19.98%. The firm had revenue of $893.30 million during the quarter, compared to analysts’ expectations of $878.46 million. During the same period last year, the firm posted $4.32 EPS. The business’s revenue was up 25.4% on a year-over-year basis. As a group, equities research analysts expect that Sinclair Broadcast Group will post 3.26 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on SBGI shares. ValuEngine raised Sinclair Broadcast Group from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Zacks Investment Research cut Sinclair Broadcast Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. BidaskClub raised Sinclair Broadcast Group from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. B. Riley raised their price target on Sinclair Broadcast Group from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, November 8th. Finally, Wolfe Research started coverage on Sinclair Broadcast Group in a report on Friday, December 7th. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.11.

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About Sinclair Broadcast Group

Sinclair Broadcast Group, Inc operates as a television broadcasting company in the United States. It owns or provides various programming, operating, or sales services to television stations. The company broadcasts free over-the-air programming, such as network provided programs, locally-produced news, local sporting events, programming from program service arrangements, syndicated entertainment programs, and internally originated programming to television viewing audiences in the communities through its local television stations.

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