Sinclair (NASDAQ:SBGI) Hits New 1-Year High After Dividend Announcement

Sinclair, Inc. (NASDAQ:SBGI) reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $18.21 and last traded at $18.21, with a volume of 289650 shares trading hands. The stock had previously closed at $17.29.

The newly announced dividend which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.52%. Sinclair’s dividend payout ratio is currently -30.30%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Benchmark increased their target price 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. JPMorgan Chase & Co. lifted their target price on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Rosenblatt Securities upped their target price on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. Finally, Guggenheim upped their price objective on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. One investment 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. According to data from MarketBeat, Sinclair presently has a consensus rating of “Hold” and an average price target of $20.10.

Sinclair Stock Up 0.3 %

The business’s 50 day simple moving average is $16.37 and its 200-day simple moving average is $14.47. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -5.49, a price-to-earnings-growth ratio of 0.15 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, topping the consensus estimate of $0.89 by $0.54. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $923.02 million. During the same period last year, the company earned ($0.30) earnings per share. Sinclair’s quarterly revenue was up 19.6% compared to the same quarter last year. Sell-side analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Institutional Investors Weigh In On Sinclair

Several large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Sinclair in the second quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Sinclair in the third quarter worth $39,000. Headlands Technologies LLC boosted its holdings in Sinclair by 1,039.0% in the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after purchasing an additional 4,239 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Sinclair during the third quarter valued at about $91,000. 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.