Sinclair (NASDAQ:SBGI) Given New $30.00 Price Target at Benchmark

Sinclair (NASDAQ:SBGI) had its target price lifted by Benchmark from $29.00 to $30.00 in a report published on Monday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of Sinclair from a hold rating to a sell rating in a research report on Friday. Rosenblatt Securities lifted their target price on shares of Sinclair from $16.40 to $16.50 and gave the stock a neutral rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $19.88.

Sinclair Trading Down 2.0 %

Shares of Sinclair stock opened at $14.38 on Monday. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78. Sinclair has a 1 year low of $9.39 and a 1 year high of $17.58. The firm has a market cap of $951.64 million, a PE ratio of -2.02, a PEG ratio of 0.12 and a beta of 1.54. The company has a 50 day simple moving average of $13.88 and a two-hundred day simple moving average of $13.22.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. During the same period in the previous year, the business earned ($1.09) earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts expect that Sinclair will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Hedge Funds Weigh In On Sinclair

Several hedge funds and other institutional investors have recently modified their holdings of SBGI. nVerses Capital LLC purchased a new position in Sinclair during the 2nd quarter valued at about $28,000. Fidelis Capital Partners LLC purchased a new position in Sinclair during the 1st quarter valued at $49,000. EntryPoint Capital LLC lifted its position in shares of Sinclair by 37.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after purchasing an additional 1,085 shares during the period. Headlands Technologies LLC increased its position in shares of Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the period. Finally, Central Pacific Bank Trust Division bought a new position in Sinclair in the first quarter worth about $76,000. 41.71% of the stock is owned by institutional investors.

Sinclair Company Profile

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.