Sinclair Broadcast Group‘s strong year-to-date ascension continued on Tuesday.
As of 3:02pm Eastern, SBGI was up 1.1% to $44.68 on lower-than-average volume of 213,505 shares.
That points to yet another winning Wall Street day, and could suggest that sweet rewards are en route for shareholders who come May 8 will learn just how positive Sinclair’s Q1 2019 earnings are.
With a 1-year target estimate of $41.33, SBGI is already running ahead of Wall Street expectations. And, it is up from just under $27 a share seen on January 3.
The strong performance of SBGI hasn’t gone unnoticed by Zacks Equity Research.
“As of late, it has definitely been a great time to be an investor in Sinclair Broadcast Group, Inc.,” it said in a report released Tuesday. “The stock has moved higher by 5.1% in the past month, while it is also above its 20 Day SMA too. This combination of strong price performance and favorable technical, could suggest that the stock may be on the right path.”
Sinclair’s Q1 earnings report will arrive at 7:30am Eastern on Thursday, May 8.
Company executives will participate in a 9am Eastern conference call to discuss the results.