Sinclair (NASDAQ:SBGI) Upgraded at StockNews.com

Sinclair (NASDAQ:SBGI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued reports about the company. Rosenblatt Securities lifted their target price on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Benchmark raised their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sinclair currently has an average rating of “Hold” and a consensus target price of $19.88.

Sinclair Stock Performance

Sinclair stock opened at $15.26 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.14, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54. Sinclair has a 1-year low of $9.39 and a 1-year high of $17.58. The firm has a 50 day simple moving average of $13.85 and a 200-day simple moving average of $13.26. 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 (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.09) earnings per share. On average, analysts expect that Sinclair will post 4.57 EPS for the current year.

Institutional Trading of Sinclair

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

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.