Sinclair (NASDAQ:SBGI) Hits New 12-Month High – Should You Buy?

Sinclair, Inc. (NASDAQ:SBGI)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $18.00 and last traded at $18.00, with a volume of 6016 shares traded. The stock had previously closed at $17.41.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBGI. Rosenblatt Securities boosted their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $13.00 to $19.00 in a research report on Thursday. Benchmark lifted their price objective on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th.

Sinclair Price Performance

The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -3.18, a PEG ratio of 0.14 and a beta of 1.53. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The company’s 50 day simple moving average is $15.50 and its 200-day simple moving average is $14.12.

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 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%. Sinclair’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned ($1.09) earnings per share. On average, equities research analysts predict that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is -18.28%.

Institutional Investors Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. Empowered Funds LLC lifted its position in Sinclair by 5.4% during the third quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock worth $3,551,000 after buying an additional 11,792 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair during the 3rd quarter valued at about $39,000. Pinnacle Associates Ltd. lifted its holdings in shares of Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock worth $9,834,000 after acquiring an additional 14,384 shares during the period. nVerses Capital LLC boosted its position in shares of Sinclair by 71.4% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $55,000 after acquiring an additional 1,500 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Sinclair by 81.6% in the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after purchasing an additional 1,026 shares during the period. Hedge funds and other institutional investors 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.