Revenue Update on Sinclair Broadcast Group Inc(NASDAQ:SBGI)

Sinclair Broadcast Group Inc(NASDAQ:SBGI) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $797.691M. Analysts estimated a revenue of $806.170M. The revenues were -1.05% below the estimates. Earnings per share were $1.32. The reported EPS was below estimates by -2.94%. Analysts had estimated an EPS of $1.36.

Sinclair Broadcast Group Inc (SBGI) made into the market gainers list on Wednesdays trading session with the shares advancing 4.47% or 1.65 points. Due to strong positive momentum, the stock ended at $38.55, which is also near the day’s high of $39.15. The stock began the session at $35.8 and the volume stood at 22,98,710 shares. The 52-week high of the shares is $39.15 and the 52 week low is $24.15. The company has a current market capitalization of $3,494 M and it has 9,06,34,391 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jan 18, 2017, David D Smith (Executive Chairman) purchased 16,500 shares at $29.59 per share price.Also, On Nov 23, 2016, Lawrence E Mccanna (director) sold 5,000 shares at $31.97 per share price.On Mar 15, 2016, Barry Faber (Exec. VP & General Counsel) sold 14,417 shares at $32.86 per share price, according to the Form-4 filing with the securities and exchange commission.

Sinclair Broadcast Group Inc. is a television broadcasting company. The Company owns or provides certain programming operating or sales services to various television stations in the United States. The Company owns and provides programming and operating services or provides sales services and other non-programming operating services pursuant to contracts to around 164 stations in 79 markets. These stations broadcast around 373 channels including 211 channels affiliated with primary networks or program service providers comprising FOX (46) ABC (33) CBS (29) NBC (21) CW (44) MNT (33) and Univision (5). The other 162 channels broadcast programming from This TV Me TV GetTV Grit Weather Radar Weather Nation Live Well Network Antenna TV Bounce Network Heartland and Retro TV among others and one channel broadcasts independent programming. The Company operates under broadcast segment. Its broadcast segment consists of all of its television stations.

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