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Sinclair (SBGI) Advances While Market Declines: Some Information for Investors
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In the latest trading session, Sinclair (SBGI - Free Report) closed at $10.05, marking a +0.3% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the television broadcasting company witnessed a loss of 11.01% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 2.79% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Sinclair in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. The company's upcoming EPS is projected at -$0.49, signifying a 236.11% drop compared to the same quarter of the previous 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. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Sinclair is carrying a Zacks Rank of #3 (Hold).
Investors should also note Sinclair's current valuation metrics, including its Forward P/E ratio of 5.94. Its industry sports an average Forward P/E of 26.49, so one might conclude that Sinclair is trading at a discount comparatively.
It is also worth noting that SBGI currently has a PEG ratio of 1.09. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Media Conglomerates industry held an average PEG ratio of 1.5.
The Media Conglomerates industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 235, placing it within the bottom 7% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Sinclair (SBGI) Advances While Market Declines: Some Information for Investors
In the latest trading session, Sinclair (SBGI - Free Report) closed at $10.05, marking a +0.3% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Shares of the television broadcasting company witnessed a loss of 11.01% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 2.79% and the S&P 500's loss of 2.65%.
The investment community will be closely monitoring the performance of Sinclair in its forthcoming earnings report. The company is scheduled to release its earnings on November 1, 2023. The company's upcoming EPS is projected at -$0.49, signifying a 236.11% drop compared to the same quarter of the previous 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. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Sinclair is carrying a Zacks Rank of #3 (Hold).
Investors should also note Sinclair's current valuation metrics, including its Forward P/E ratio of 5.94. Its industry sports an average Forward P/E of 26.49, so one might conclude that Sinclair is trading at a discount comparatively.
It is also worth noting that SBGI currently has a PEG ratio of 1.09. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Media Conglomerates industry held an average PEG ratio of 1.5.
The Media Conglomerates industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 235, placing it within the bottom 7% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.