After B.Riley FBR and Wells Fargo gave Sinclair Broadcast (NASDAQ: SBGI) a Buy rating last month, the company received another Buy, this time from Benchmark Co. Analyst Daniel Kurnos assigned a Buy rating to Sinclair Broadcast today and set a price target of $38. The company’s shares closed yesterday at $26.30, close to its 52-week low of $25.98.
According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 12.1% and a 56.6% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Booking Holdings Inc, and 1-800 Flowers.com.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sinclair Broadcast with a $41.20 average price target, implying a 56.7% upside from current levels. In a report issued on July 17, B.Riley FBR also maintained a Buy rating on the stock with a $36 price target.
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Sinclair Broadcast’s market cap is currently $2.69B and has a P/E ratio of 4.81. The company has a Price to Book ratio of 1.67.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock.
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Sinclair Broadcast Group, Inc. is a television broadcasting company, which engages in the provision of content on local television stations and digital and other platforms. It operates through Broadcast segment. The Broadcast segment provides free over-the-air programming to television viewing audiences in the communities through local television stations.
