Stock News Buzz: Sinclair Broadcast Group Inc. (NASDAQ:SBGI)

Sinclair Broadcast Group Inc. (NASDAQ:SBGI) changed -5.19% to recent value of $12.25. The stock transacted 2062577 shares during most recent day however it has an average volume of 2.27M shares. It spotted trading -81.60% off 52-week high price. On the other end, the stock has been noted 15.84% away from the low price over the last 52-weeks.

On April 3, 2020, Sinclair Broadcast Group Inc. (NASDAQ:SBGI) has launched COVID-19 News, a channel singularly focused on the global pandemic. It provides viewers with live feeds of important news events, including national and local daily press conferences and other critical updates on the crisis. The channel is presented commercial free.

As concerns surrounding COVID-19 continued to escalate throughout the month of March, STIRR experienced a significant growth in number of users, sessions and video plays, demonstrating the heightened demand for local news during the crisis. Ultimately, this demand led to the rebrand of an existing channel, STIRR Life, into COVID-19 News. Just one week after its launch, COVID-19 News has become the second most watched channel on the platform, following only the signature STIRR City channel.

In times of uncertainty, people rely on local news to stay updated on critical and potentially life-saving information, said Sinclair President and CEO Chris Ripley. At Sinclair, we are dedicated to providing our viewers with easy access to vital information – which is why we created a STIRR channel entirely dedicated to COVID-19. We hope that it will help viewers stay informed, healthy and safe.

SBGI has a gross margin of 51.10% and an operating margin of 10.80% while its profit margin remained 1.10% for the last 12 months. Its earnings per share (EPS) expected to touch remained -84.80% for this year while earning per share for the next 5-years is expected to reach at 1.60%.

The company has 95.05M of outstanding shares and 63.57M shares were floated in the market. According to the most recent quarter its current ratio was 2.6 that represents company’s ability to meet its current financial obligations. The price moved ahead of -24.86% from the mean of 20 days, -48.35% from mean of 50 days SMA and performed -67.55% from mean of 200 days price. Company’s performance for the week was -29.56%, -47.74% for month and YTD performance remained -63.26%.

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