Sinclair, Inc. (NASDAQ:SBGI) Receives Average Recommendation of “Hold” from Brokerages

Sinclair, Inc. (NASDAQ:SBGI) has received an average rating of “Hold” from the five ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $20.10.

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark lifted their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Finally, Guggenheim upped their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th.

Sinclair Stock Performance

NASDAQ:SBGI opened at $15.65 on Wednesday. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.45. 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 firm’s fifty day simple moving average is $16.84 and its 200 day simple moving average is $15.43. The stock has a market cap of $1.04 billion, a P/E ratio of -4.74, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57.

Sinclair (NASDAQ:SBGI) last released its 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. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.30) EPS. As a group, research analysts predict that Sinclair will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date was Monday, December 2nd. Sinclair’s payout ratio is -30.30%.

Institutional Trading of Sinclair

Several hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new position in shares of Sinclair during the third quarter valued at approximately $1,605,000. Verition Fund Management LLC bought a new stake in shares of Sinclair in the 3rd quarter valued at about $822,000. Barclays PLC lifted its holdings in Sinclair by 378.1% during the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after buying an additional 42,887 shares during the period. Geode Capital Management LLC increased its position in shares of Sinclair by 1.9% during the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock worth $12,655,000 after purchasing an additional 15,263 shares in the last quarter. Finally, Empyrean Capital Partners LP purchased a new stake in Sinclair in the second quarter valued at about $2,873,000. 41.71% of the stock is currently owned by hedge funds and other 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.