Sinclair, Inc. (NASDAQ:SBGI) Receives $20.10 Average PT from Analysts

Sinclair, Inc. (NASDAQ:SBGI) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.10.

SBGI has been the topic of several recent analyst reports. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $13.00 to $19.00 in a report on Thursday, November 7th. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. JPMorgan Chase & Co. boosted their target price on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Guggenheim increased their price target on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Benchmark lifted their target price on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd.

Sinclair Price Performance

NASDAQ:SBGI opened at $15.65 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -4.74, a PEG ratio of 0.15 and a beta of 1.57. Sinclair has a one year low of $11.13 and a one year high of $18.45. The firm’s fifty day moving average is $16.84 and its two-hundred day moving average is $15.43. 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 (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. The company’s revenue was up 19.6% compared to the same quarter last year. Research analysts expect that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 6.39%. Sinclair’s dividend payout ratio is presently -30.30%.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SBGI. Segall Bryant & Hamill LLC purchased a new stake in shares of Sinclair in the third quarter valued at about $1,605,000. Verition Fund Management LLC purchased a new position in shares of Sinclair during the 3rd quarter worth approximately $822,000. Barclays PLC lifted its holdings in Sinclair by 378.1% in the third quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after acquiring an additional 42,887 shares during the period. Geode Capital Management LLC boosted its holdings in 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 buying an additional 15,263 shares in the last quarter. Finally, Empyrean Capital Partners LP acquired a new stake in shares of Sinclair in the 2nd quarter worth approximately $2,873,000. Hedge funds and other 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.