5 Communication Services Stocks that Pay Dividends

In this article, we will be taking a look at 5 communication services stocks that pay dividends. To see our detailed analysis of communication services stocks, you can go directly to the 10 Communication Services Stocks that Pay Dividends.

5. Sinclair Broadcast Group, Inc. (NASDAQ: SBGI)

Number of Hedge Fund Holders: 19
Dividend Yield: 2.6%

Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), a diversified television media company, ranks 5th on our list of communication services stocks that pay dividends. The company operates mainly in the US through its Broadcast and Local Sports segments and provides programming, operating, sales, and non-programming operating services to various television stations.

Deutsche Bank analyst Connor Murphy raised his price target on shares of Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) this July. The analyst’s new price target on the stock is $34 versus the previous $30 target. Murphy also kept a Hold rating on Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) as well.

In the second quarter of 2021, Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) had an EPS of -$4.41, beating estimates by $0.02. The company’s revenue was $1.61 billion, up 25.64% year over year and beating estimates by $6.21 million. Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) has also gained 45.39% in the past year.

By the end of the first quarter of 2021, 19 hedge funds out of the 866 tracked by Insider Monkey held stakes in Sinclair Broadcast Group, Inc. (NASDAQ: SBGI) worth roughly $396 million. This is compared to 29 hedge funds in the previous quarter with a total stake value of approximately $453 million.