Guggenheim Issues Positive Forecast for Sinclair (NASDAQ:SBGI) Stock Price

Sinclair (NASDAQ:SBGI) had its price objective raised by research analysts at Guggenheim from $18.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 19.27% from the company’s current price.

Several other research firms have also recently commented on SBGI. JPMorgan Chase & Co. boosted their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. 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. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.10.

Sinclair Stock Performance

Shares of SBGI remained flat at $15.93 during mid-day trading on Tuesday. 65,816 shares of the stock traded hands, compared to its average volume of 410,954. The company has a fifty day moving average of $15.92 and a 200-day moving average of $14.34. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair has a 1-year low of $11.13 and a 1-year high of $18.20. The company has a market capitalization of $1.06 billion, a P/E ratio of -4.83, a price-to-earnings-growth ratio of 0.14 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million for 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 company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.30) earnings per share. As a group, equities research analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after buying an additional 1,026 shares during the last quarter. EntryPoint Capital LLC raised its holdings in Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after purchasing an additional 1,085 shares in the last quarter. nVerses Capital LLC lifted its position in Sinclair by 71.4% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after purchasing an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sinclair by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock valued at $111,000 after purchasing an additional 1,898 shares during the period. Finally, Prospect Financial Services LLC boosted its holdings in Sinclair by 7.7% in the 2nd quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock valued at $373,000 after purchasing an additional 2,000 shares in the last quarter. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.