Between September and November 2020, Sinclair Broadcast Group shares finally started to rebound from pandemic-influenced lows, driven by the media company’s newly acquired regional sports networks and lack of live action to televise.
Since then, SBGI has been ensconced within a target range Wall Street analysts believe is fair for the company led by Chris Ripley.
Where the company’s shares will go come November 2021 and beyond could be fueled by Sinclair’s third quarter performance. And, we now know when the company will be sharing its fiscal report card for the period ending September 30.
Sinclair will report its third quarter 2021 earnings results at 7:30am Eastern on Wednesday, November 3. A conference call to discuss the results will be hosted by Ripley, CFO Lucy Rutishauser, and others at 9am Eastern.
How Sinclair performed could spark SBGI, which was trading in the low $50 range between May and July 2019.
For long-term investors, however, SBGI is a steady investment in need of a spark. In November 2016, it was $32.55 a share. Today, it is trading just below $30.
The 1-year target estimate for SBGI is $33.14.
