Sinclair, Inc. (NASDAQ:SBGI) to Issue Quarterly Dividend of $0.25

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.92%.

Sinclair has increased its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Price Performance

SBGI traded down $0.18 on Wednesday, hitting $14.45. 210,414 shares of the company were exchanged, compared to its average volume of 201,446. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The firm has a market capitalization of $959.78 million, a P/E ratio of -4.38 and a beta of 1.55. The business’s fifty day moving average is $15.33 and its 200 day moving average is $15.59. 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 announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, sell-side analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $13.00 to $19.00 in a report on Thursday, November 7th. Guggenheim lifted their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, 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 note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus target price of $20.10.

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.