Sinclair Stock In 2019: Up, But By A Hair

0

Here’s the good news: Sinclair Broadcast Group‘s stock will finish 2019 ahead of where its started the year, by nearly $4.50 per share.


Here’s the bad news: The second half of the year was full of consistent declines that erased healthy growth seen through early July for the TV station owner that now has the former Fox regional sports networks.

With Monday’s Closing Bell, SBGI is at $32.90, off 77 cents from Friday’s close.

Sinclair has a 1-year target estimate of $45.10, but hasn’t been priced at that level since early August.

Meanwhile, SBGI’s best performance was seen between May 1 and mid-July, when $60 was a plausable price.

Now, Sinclair is struggling to even see a $40 close.

But, longterm investors may be nonplussed. Until this year’s spring surge, SBGI rarely closed above $40 and was largely a non-mover, with a range of $25 to $35 from 2015 through 2018.