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Sinclair (SBGI) Stock Moves -0.3%: What You Should Know
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Sinclair (SBGI - Free Report) ended the recent trading session at $10.02, demonstrating a -0.3% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
The television broadcasting company's stock has dropped by 6.25% in the past month, falling short of the Consumer Discretionary sector's loss of 1.32% and the S&P 500's loss of 3.35%.
Analysts and investors alike will be keeping a close eye on the performance of Sinclair in its upcoming earnings disclosure. The company's earnings report is set to go public on November 1, 2023. It is anticipated that the company will report an EPS of -$0.49, marking a 236.11% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $753.4 million, indicating a 10.63% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.69 per share and revenue of $3.13 billion. These totals would mark changes of +60.95% and -20.26%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sinclair is presently being traded at a Forward P/E ratio of 5.96. For comparison, its industry has an average Forward P/E of 26.22, which means Sinclair is trading at a discount to the group.
It's also important to note that SBGI currently trades at a PEG ratio of 1.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Media Conglomerates industry stood at 1.49 at the close of the market yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 7% of all industries, numbering over 250.
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.
To follow SBGI in the coming trading sessions, be sure to utilize Zacks.com.
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Sinclair (SBGI) Stock Moves -0.3%: What You Should Know
Sinclair (SBGI - Free Report) ended the recent trading session at $10.02, demonstrating a -0.3% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.18%. Meanwhile, the Dow experienced a drop of 0.76%, and the technology-dominated Nasdaq saw a decrease of 1.76%.
The television broadcasting company's stock has dropped by 6.25% in the past month, falling short of the Consumer Discretionary sector's loss of 1.32% and the S&P 500's loss of 3.35%.
Analysts and investors alike will be keeping a close eye on the performance of Sinclair in its upcoming earnings disclosure. The company's earnings report is set to go public on November 1, 2023. It is anticipated that the company will report an EPS of -$0.49, marking a 236.11% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $753.4 million, indicating a 10.63% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.69 per share and revenue of $3.13 billion. These totals would mark changes of +60.95% and -20.26%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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 holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Sinclair is presently being traded at a Forward P/E ratio of 5.96. For comparison, its industry has an average Forward P/E of 26.22, which means Sinclair is trading at a discount to the group.
It's also important to note that SBGI currently trades at a PEG ratio of 1.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Media Conglomerates industry stood at 1.49 at the close of the market yesterday.
The Media Conglomerates industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 236, this industry ranks in the bottom 7% of all industries, numbering over 250.
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.
To follow SBGI in the coming trading sessions, be sure to utilize Zacks.com.