Sinclair, Inc. (NASDAQ:SBGI) Receives $20.10 Average Target Price from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been given an average recommendation of “Hold” by the five research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.10.

SBGI has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Guggenheim boosted their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Rosenblatt Securities boosted their price target on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $19.00 in a report on Thursday, November 7th.

Hedge Funds Weigh In On Sinclair

A number of large investors have recently made changes to their positions in SBGI. Empyrean Capital Partners LP acquired a new position in shares of Sinclair during the second quarter worth $2,873,000. Point72 Asset Management L.P. acquired a new position in shares of Sinclair during the third quarter worth $2,110,000. Inspire Advisors LLC acquired a new position in shares of Sinclair in the 2nd quarter valued at $1,552,000. Alden Global Capital LLC increased its position in shares of Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after acquiring an additional 116,074 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Sinclair in the 3rd quarter valued at $1,605,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Stock Up 4.4 %

Shares of NASDAQ:SBGI opened at $18.05 on Tuesday. Sinclair has a 1 year low of $11.13 and a 1 year high of $18.27. The business has a 50 day simple moving average of $16.29 and a two-hundred day simple moving average of $14.45. The firm has a market capitalization of $1.20 billion, a PE ratio of -5.47, a price-to-earnings-growth ratio of 0.15 and a beta of 1.53. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) earnings per share. On average, equities analysts predict that Sinclair will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s dividend payout ratio (DPR) is -30.30%.

About Sinclair

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.