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Sinclair (SBGI) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, Sinclair (SBGI - Free Report) closed at $15.67, marking a -1.2% move from the previous day. This change lagged the S&P 500's 1.07% gain on the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.

Shares of the television broadcasting company witnessed a gain of 16.45% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.41% and the S&P 500's gain of 2.93%.

The upcoming earnings release of Sinclair will be of great interest to investors. The company's earnings report is expected on February 28, 2024. The company's earnings per share (EPS) are projected to be $0.46, reflecting a 48.89% decrease from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $834.22 million, indicating a 13.1% decrease compared to the same quarter of the previous year.

Investors should also pay attention to any latest changes in analyst estimates for Sinclair. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Sinclair possesses a Zacks Rank of #3 (Hold).

Looking at its valuation, Sinclair is holding a Forward P/E ratio of 4.09. This denotes a discount relative to the industry's average Forward P/E of 19.73.

Meanwhile, SBGI's PEG ratio is currently 1.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Media Conglomerates industry had an average PEG ratio of 1.85.

The Media Conglomerates industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 111, positioning it in the top 45% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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