Sinclair (SBGI) Gains As Market Dips: What You Should Know
Sinclair (SBGI) ended the recent trading session at $13.31, demonstrating a +1.91% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 0.19%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, lost 0.54%.
The television broadcasting company's shares have seen a decrease of 10.85% over the last month, not keeping up with the Consumer Discretionary sector's gain of 0.15% and the S&P 500's gain of 3.18%.
The upcoming earnings release of Sinclair will be of great interest to investors. The company is expected to report EPS of -$0.20, down 107.38% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $799.23 million, indicating a 3.39% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.42 per share and a revenue of $3.58 billion, demonstrating changes of +121.51% and +14.16%, respectively, from the preceding year.
Any recent changes to analyst estimates for Sinclair should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate has moved 37.56% lower within the past month. As of now, Sinclair holds a Zacks Rank of #3 (Hold).
Digging into valuation, Sinclair currently has a Forward P/E ratio of 5.4. This expresses a discount compared to the average Forward P/E of 18.21 of its industry.
The Media Conglomerates industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 53, placing it within the top 22% of over 250 industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Sinclair, Inc. (SBGI) : Free Stock Analysis Report
