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Sinclair (SBGI) Stock Dips While Market Gains: Key Facts
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In the latest market close, Sinclair (SBGI - Free Report) reached $14.59, with a -1.29% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
The the stock of television broadcasting company has fallen by 15.69% in the past month, lagging the Consumer Discretionary sector's gain of 2.85% and the S&P 500's gain of 5.01%.
The investment community will be closely monitoring the performance of Sinclair in its forthcoming earnings report. The company is scheduled to release its earnings on February 28, 2024. The company's upcoming EPS is projected at $0.46, signifying a 48.89% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $834.22 million, reflecting a 13.1% fall from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sinclair. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Sinclair is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Sinclair is holding a Forward P/E ratio of 3.81. This signifies a discount in comparison to the average Forward P/E of 18.25 for its industry.
One should further note that SBGI currently holds a PEG ratio of 1.15. 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. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Sinclair (SBGI) Stock Dips While Market Gains: Key Facts
In the latest market close, Sinclair (SBGI - Free Report) reached $14.59, with a -1.29% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.04%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.28%.
The the stock of television broadcasting company has fallen by 15.69% in the past month, lagging the Consumer Discretionary sector's gain of 2.85% and the S&P 500's gain of 5.01%.
The investment community will be closely monitoring the performance of Sinclair in its forthcoming earnings report. The company is scheduled to release its earnings on February 28, 2024. The company's upcoming EPS is projected at $0.46, signifying a 48.89% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $834.22 million, reflecting a 13.1% fall from the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sinclair. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Sinclair is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Sinclair is holding a Forward P/E ratio of 3.81. This signifies a discount in comparison to the average Forward P/E of 18.25 for its industry.
One should further note that SBGI currently holds a PEG ratio of 1.15. 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. Media Conglomerates stocks are, on average, holding a PEG ratio of 1.69 based on yesterday's closing prices.
The Media Conglomerates industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.