Sinclair (NASDAQ:SBGI) Receives “Buy” Rating from Benchmark

Benchmark reaffirmed their buy rating on shares of Sinclair (NASDAQ:SBGI) in a research note released on Tuesday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

SBGI has been the subject of a number of other reports. Guggenheim lifted their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $13.00 to $19.00 in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.10.

Sinclair Stock Down 2.4 %

SBGI stock opened at $14.50 on Tuesday. The business has a 50 day moving average of $16.54 and a 200 day moving average of $15.56. The firm has a market cap of $963.09 million, a PE ratio of -4.39 and a beta of 1.57. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results 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 firm had revenue of $917.00 million during the quarter, compared to analyst estimates of $923.02 million. During the same quarter in the previous year, the firm earned ($0.30) EPS. Sinclair’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend was Monday, December 2nd. Sinclair’s dividend payout ratio is presently -30.30%.

Institutional Investors Weigh In On Sinclair

Several hedge funds and other institutional investors have recently modified their holdings of SBGI. GAMMA Investing LLC grew its holdings in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. nVerses Capital LLC grew its stake in shares of Sinclair by 71.4% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $55,000 after acquiring an additional 1,500 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Sinclair in the 3rd quarter worth approximately $39,000. Hsbc Holdings PLC raised its stake in Sinclair by 28.0% during the 2nd quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock worth $177,000 after acquiring an additional 2,918 shares during the period. Finally, HighTower Advisors LLC lifted its holdings in Sinclair by 15.4% during the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock valued at $433,000 after purchasing an additional 3,801 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.