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Sinclair Broadcast Group (SBGI) in Focus: Stock Moves 8.9% Higher

Zacks

Sinclair Broadcast Group, Inc. SBGI was a big mover last session, as the company saw its shares rise nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $34.70–$38.40 in the past one-month time frame, witnessed a sharp increase yesterday.

The shares rose after the company extended and renewed affiliation agreements with ABC Television Network through 2022.

The company has seen no estimate revisions over the past one month, and the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Sinclair Broadcast Group currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.


Sinclair Broadcast Group, Inc. Price and Consensus

A better ranked stock in the Broadcast Radio and Television industry is Roku, Inc. ROKU which also carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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