Sinclair, Inc. Announces Quarterly Dividend of $0.25 (NASDAQ:SBGI)

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.92%.

Sinclair has increased its dividend by an average of 7.7% per year over the last three years. Sinclair has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Trading Down 1.2 %

SBGI stock traded down $0.18 during midday trading on Wednesday, hitting $14.45. 210,414 shares of the company’s stock were exchanged, compared to its average volume of 201,446. Sinclair has a 1-year low of $11.13 and a 1-year high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a market capitalization of $959.78 million, a PE ratio of -4.38 and a beta of 1.55. The business has a 50-day simple moving average of $15.33 and a two-hundred day simple moving average of $15.59.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. On average, sell-side analysts predict that Sinclair will post 4.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SBGI shares. Benchmark reaffirmed a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim upped their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $13.00 to $19.00 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.10.

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.