Sinclair (SBGI) to Release Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI) will be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Sinclair to post earnings of ($0.19) per share for the quarter. Sinclair has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.35. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $838.75 million. During the same quarter in the prior year, the firm posted $0.90 EPS. Sinclair’s quarterly revenue was down 14.0% compared to the same quarter last year. On average, analysts expect Sinclair to post $2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sinclair Stock Performance

NASDAQ:SBGI opened at $13.54 on Tuesday. The stock’s fifty day moving average is $12.79 and its 200 day moving average is $13.45. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The firm has a market capitalization of $861.14 million, a PE ratio of -2.80, a PEG ratio of 0.32 and a beta of 1.38. The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 8th. This represents a $1.00 annualized dividend and a yield of 7.39%. Sinclair’s payout ratio is presently -20.70%.

Insider Buying and Selling at Sinclair

In other news, CAO David R. Bochenek sold 20,803 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel C. Keith sold 30,086 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total transaction of $408,567.88. Following the sale, the director now owns 30,000 shares of the company’s stock, valued at $407,400. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The disclosure for this sale can be found here. 41.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on SBGI shares. Rosenblatt Securities increased their price target on Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a report on Thursday, January 18th. Wells Fargo & Company upped their price objective on Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, March 1st. Finally, StockNews.com downgraded Sinclair from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sinclair presently has a consensus rating of “Hold” and an average target price of $18.14.

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.