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Sinclair (SBGI) Soars 6.7%: Is Further Upside Left in the Stock?
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Sinclair (SBGI - Free Report) shares ended the last trading session 6.7% higher at $13.8. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.5% loss over the past four weeks.
The optimism surrounding the stock can be attributed to Sinclair’s improving operating performance, supported by steady growth in distribution revenue and core advertising. The company is also benefiting from record viewership and subscriber growth at Tennis Channel, improving subscriber trends across its broadcast business, and continued debt reduction efforts are supporting investor confidence in its long-term growth outlook.
This television broadcasting company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +85.7%. Revenues are expected to be $835.5 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sinclair, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SBGI going forward to see if this recent jump can turn into more strength down the road.
Sinclair belongs to the Zacks Media Conglomerates industry. Another stock from the same industry, Reservoir Media, Inc. (RSVR - Free Report) , closed the last trading session 0.3% lower at $10.05. Over the past month, RSVR has returned -0.7%.
Reservoir Media's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents no change. Reservoir Media currently boasts a Zacks Rank of #2 (Buy).
View the Zacks #1 Rank List
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Sinclair (SBGI) Soars 6.7%: Is Further Upside Left in the Stock?
Sinclair (SBGI - Free Report) shares ended the last trading session 6.7% higher at $13.8. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 9.5% loss over the past four weeks.
The optimism surrounding the stock can be attributed to Sinclair’s improving operating performance, supported by steady growth in distribution revenue and core advertising. The company is also benefiting from record viewership and subscriber growth at Tennis Channel, improving subscriber trends across its broadcast business, and continued debt reduction efforts are supporting investor confidence in its long-term growth outlook.
This television broadcasting company is expected to post quarterly loss of $0.13 per share in its upcoming report, which represents a year-over-year change of +85.7%. Revenues are expected to be $835.5 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Sinclair, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SBGI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sinclair belongs to the Zacks Media Conglomerates industry. Another stock from the same industry, Reservoir Media, Inc. (RSVR - Free Report) , closed the last trading session 0.3% lower at $10.05. Over the past month, RSVR has returned -0.7%.
Reservoir Media's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents no change. Reservoir Media currently boasts a Zacks Rank of #2 (Buy).