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Sinclair Broadcast Group, Inc. (SBGI) owns and operates, programs, or provides sales services to television stations in the United States.
It broadcasts free over-the-air programming, such as network provided programs, news produced locally, local sporting events, programming from program service arrangements, syndicated entertainment programs, and other locally produced programs.
The company owns and provides programming and operating services pursuant to local marketing agreements, or provides sales services pursuant to outsourcing agreements to 164 stations in 79 markets, which broadcast 373 channels.
It also offers sign design and fabrication services; and security alarm monitoring and bulk acquisition services. In addition, the company invests in various real estate ventures, including developmental land, and operating commercial and multi-family residential real estate properties and apartments, as well as in private equity and structured debt/mezzanine financing investment funds.
Further, it manufactures and services television broadcast antennas and transmitters.
Shares have formed a bullish "flag" following the company's strong Q3 results. The television broadcasting company posted revenue of $548.4 million in the period, vs. expectation of $533.5 million. It reported Q3 EPS of 45c compared to estimates of 23c. Higher share prices are expected for this stock.
52-Weeks Trading Range: $24.04 - $34.48
Entry Point: $34.15
Stop Loss: $32.40
Target Price: $37.60
SBGI closed at $31.40
