Media broadcasting company Sinclair (NASDAQ: SBGI) will be reporting earnings this Thursday after the bell. Here’s what investors should know.
Sinclair met analysts’ revenue expectations last quarter, reporting revenues of $836 million, down 16.7% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Sinclair a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Sinclair’s revenue to grow 2% year on year, a reversal from the 2.8% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Sinclair has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Sinclair’s peers in the media & entertainment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Stride delivered year-on-year revenue growth of 2.7%, meeting analysts’ expectations, and Omnicom Group reported revenues up 69.2%, topping estimates by 8.7%.
Read our full analysis of Stride’s results here and Omnicom Group’s results here.
There has been positive sentiment among investors in the media & entertainment segment, with share prices up 13.1% on average over the last month. Sinclair is up 19.2% during the same time and is heading into earnings with an average analyst price target of $17.71 (compared to the current share price of $15.72).
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