Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of “Hold” by Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $20.10.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the last quarter. Barclays PLC grew its position in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after acquiring an additional 42,887 shares during the last quarter. Geode Capital Management LLC grew its position in Sinclair by 1.9% during the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after acquiring an additional 15,263 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Sinclair in the 3rd quarter worth approximately $91,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Sinclair in the 3rd quarter valued at $2,110,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Price Performance

NASDAQ SBGI opened at $16.79 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market cap of $1.12 billion, a PE ratio of -5.09, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.45. The firm’s 50-day simple moving average is $16.91 and its two-hundred day simple moving average is $15.31.

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

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date was Monday, December 2nd. Sinclair’s payout ratio 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.