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

Sinclair, Inc. (NASDAQ:SBGI) has been given an average recommendation of “Hold” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.10.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Rosenblatt Securities boosted their target price on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Benchmark boosted their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Barclays PLC increased its holdings in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after purchasing an additional 42,887 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Sinclair in the third quarter valued at approximately $91,000. Point72 Asset Management L.P. bought a new position in Sinclair in the 3rd quarter valued at approximately $2,110,000. Finally, Parallax Volatility Advisers L.P. boosted its position in Sinclair by 38.9% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 52,472 shares of the company’s stock worth $803,000 after buying an additional 14,683 shares during the period. 41.71% of the stock is currently owned by institutional investors.

Sinclair Stock Up 0.7 %

Shares of SBGI opened at $17.29 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.20. The firm’s 50 day moving average is $16.21 and its 200-day moving average is $14.42. The stock has a market capitalization of $1.15 billion, a PE ratio of -5.24, a P/E/G ratio of 0.15 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. The firm had revenue of $917.00 million for the quarter, compared to analyst estimates 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 was up 19.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.30) EPS. Equities research analysts forecast that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.78%. The ex-dividend date is 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.