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Sinclair (SBGI) Stock Moves -0.05%: What You Should Know

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The latest trading session saw Sinclair (SBGI - Free Report) ending at $10.15, denoting a -0.05% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.63%. Meanwhile, the Dow lost 0.51%, and the Nasdaq, a tech-heavy index, lost 0.63%.

The the stock of television broadcasting company has fallen by 14.85% in the past month, lagging the Consumer Discretionary sector's loss of 3.09% and the S&P 500's loss of 2.35%.

Investors will be eagerly watching for the performance of Sinclair in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company is forecasted to report an EPS of -$0.49, showcasing a 236.11% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $753.4 million, down 10.63% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates project earnings of $1.69 per share and a revenue of $3.13 billion, demonstrating changes of +60.95% and -20.26%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Sinclair. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sinclair is currently a Zacks Rank #5 (Strong Sell).

With respect to valuation, Sinclair is currently being traded at a Forward P/E ratio of 6.02. This signifies a discount in comparison to the average Forward P/E of 23.41 for its industry.

We can also see that SBGI currently has a PEG ratio of 1.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Media Conglomerates industry had an average PEG ratio of 1.27.

The Media Conglomerates industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 217, positioning it in the bottom 14% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.


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