We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Sinclair (SBGI) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Sinclair (SBGI - Free Report) closed at $13.54, marking a -0.62% move from the previous day. This change lagged the S&P 500's 0.74% gain on the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Coming into today, shares of the television broadcasting company had lost 9.98% in the past month. In that same time, the Consumer Discretionary sector gained 1.26%, while the S&P 500 gained 3.34%.
Sinclair will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect Sinclair to post earnings of -$0.58 per share. This would mark a year-over-year decline of 1833.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $765.72 million, down 8.52% from the year-ago period.
SBGI's full-year Zacks Consensus Estimates are calling for earnings of $2.71 per share and revenue of $3.15 billion. These results would represent year-over-year changes of +158.1% and -19.93%, respectively.
Investors might also notice recent changes to analyst estimates for Sinclair. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sinclair currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Sinclair has a Forward P/E ratio of 5.03 right now. This represents a discount compared to its industry's average Forward P/E of 23.57.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Sinclair (SBGI) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Sinclair (SBGI - Free Report) closed at $13.54, marking a -0.62% move from the previous day. This change lagged the S&P 500's 0.74% gain on the day. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Coming into today, shares of the television broadcasting company had lost 9.98% in the past month. In that same time, the Consumer Discretionary sector gained 1.26%, while the S&P 500 gained 3.34%.
Sinclair will be looking to display strength as it nears its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect Sinclair to post earnings of -$0.58 per share. This would mark a year-over-year decline of 1833.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $765.72 million, down 8.52% from the year-ago period.
SBGI's full-year Zacks Consensus Estimates are calling for earnings of $2.71 per share and revenue of $3.15 billion. These results would represent year-over-year changes of +158.1% and -19.93%, respectively.
Investors might also notice recent changes to analyst estimates for Sinclair. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sinclair currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Sinclair has a Forward P/E ratio of 5.03 right now. This represents a discount compared to its industry's average Forward P/E of 23.57.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.