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Sinclair Broadcast Group Inc Class A SBGI Stock Quote

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Morningstar‘s Stock Analysis SBGI

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Strong Political Ad Growth Helps Boost Sinclair in Q3; Core Ad Weakness Could Expand in 2023

Neil Macker Senior Equity Analyst

Analyst Note

| Neil Macker |

Sinclair reported a slightly better-than-expected third quarter as revenue was in line with and adjusted EBITDA beat FactSet consensus. Political ad spending through the third quarter is up 50% versus 2018 pro forma and only down 2% from 2020, a presidential election year. Management expects full-year political ad revenue to reach $335 million-$340 million, a record midterm year and 30% ahead of 2018. Despite the positive political ad news, core ad revenue fell 10% due in part to crowding out from political ads but also weakness in insurance and sports betting. We plan to lower our $30 fair value estimate after updating our model to account for slower ad growth.

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Key Statistics SBGI

Company Profile SBGI

Business Description

Sinclair Broadcast Group Inc is the second-largest television station operator in the U.S., with 185 stations in 85 markets. Of the firm's over 600 channels, over 150 are affiliated with the four national broadcasters--Fox, ABC, CBS, and NBC --with over 80 other channels on networks aligned with CBS (CW) and Fox (MyNetworkTV). Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner or operator of regional sports networks with 21 Fox-branded RSNs covering 42 NBA, MLB, and NHL teams along with the new home of the Chicago Cubs, Marquee Sports Network. The firm also owns the Tennis Channel, four multicast networks, and professional wrestling promotion Ring of Honor. The company has two reportable segments: Broadcast and Local sports.

10706 Beaver Dam Road
Hunt Valley, MD, 21030
Industry Entertainment
Employees 11,500

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FAQs for Sinclair Broadcast Group Inc Class A Stock

Yes. SBGI has a forward dividend yield of 6.06%. See SBGI’s full dividends and stock split history on the Dividend tab.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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SBGI’s market cap is 1.15 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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SBGI’s stock style is Small Value.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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SBGI’s price/sales is 0.27.
Price/sales represents the amount an investor is willing to pay for a dollar generated from a particular company’s sales or revenues.

SBGI’s price/forward earnings is 5.17.
Forward P/E gives some indication of how cheap or expensive a stock is compared with consensus earnings estimates. The lower the Forward P/E, the cheaper the stock.

SBGI’s price/book is 1.63.
Price/book ratio can tell investors approximately how much they’re paying for a company’s assets, based on historical, rather than current, valuations. Historical valuations generally do not reflect a company’s current market value. Value investors frequently look for companies that have low price/book ratios.

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SBGI’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

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