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

Sinclair Broadcast Group Inc(NASDAQ:SBGI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $666.53M. Analysts estimated a revenue of $658.59M. Earnings per share were $0.61. Analysts had estimated an EPS of $0.57.

Sinclair Broadcast Group Inc (SBGI) shares turned negative on Fridays trading session with the shares closing down -0.07 points or -0.24% at a volume of 6,85,376. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $29.54. The peak price level was also seen at $29.54 while the days lowest was $29.11. Finally the shares closed at $29.33. The 52-week high of the shares is $35.8949 while the 52-week low is $24.04. According to the latest information available, the market cap of the company is $2,770 M.

Several Insider Transactions has been reported to the SEC. On Mar 15, 2016, Barry Faber (Exec. VP & General Counsel) sold 14,417 shares at $32.86 per share price.Also, On Jan 11, 2016, Martin R Leader (director) sold 1,000 shares at $30.71 per share price.On Nov 9, 2015, Lucy Rutishauser (SVP Corp. Finance & Treasurer) sold 2,334 shares at $33.50 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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