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Sinclair (SBGI) Rises As Market Takes a Dip: Key Facts

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Sinclair (SBGI - Free Report) closed the most recent trading day at $16.03, moving +1.2% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.82%.

The the stock of television broadcasting company has risen by 6.02% in the past month, leading the Consumer Discretionary sector's gain of 5% and the S&P 500's gain of 5.3%.

Market participants will be closely following the financial results of Sinclair in its upcoming release. The company plans to announce its earnings on February 28, 2024. The company is predicted to post an EPS of $0.46, indicating a 48.89% decline compared to the equivalent 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 note any recent changes to analyst estimates for Sinclair. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Sinclair presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Sinclair is presently being traded at a Forward P/E ratio of 4.09. This signifies a discount in comparison to the average Forward P/E of 16.96 for its industry.

It is also worth noting that SBGI currently has a PEG ratio of 1.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Media Conglomerates industry had an average PEG ratio of 1.76 as trading concluded yesterday.

The Media Conglomerates industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


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