U.S. Markets closed

Sinclair Broadcast Group (SBGI) Falls: Crumbles 5.5% in Session

Zacks Equity Research

Sinclair Broadcast Group Inc. (SBGI) saw a big move last session, as the company’s shares fell by more than 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for SBGI, as the stock is now down over 24% in the past one-month time frame.

This television broadcasting company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (no increases or decreases), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch of this firm in the near future, and especially on earnings estimates following the recent slump.

SBGI currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Better-ranked stocks in the same sector include Gray Television Inc. (GTN), LIN Media LLC (LIN) and Phoenix New Media Limited (FENG). All these stocks carry a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

SINCLAIR BROADCAST GRP CL A (SBGI): Free Stock Analysis Report

Zacks Investment Research