Sinclair (NASDAQ:SBGI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a hold rating to a buy rating in a research report report published on Wednesday.

SBGI has been the topic of several other reports. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Finally, Guggenheim boosted their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Sinclair has an average rating of “Hold” and an average price target of $20.10.

Sinclair Price Performance

Shares of SBGI stock opened at $14.45 on Wednesday. The stock’s fifty day simple moving average is $15.30 and its 200 day simple moving average is $15.58. Sinclair has a one year low of $11.13 and a one year high of $18.45. The firm has a market cap of $959.78 million, a price-to-earnings ratio of -4.38 and a beta of 1.55. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. On average, analysts expect that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.92%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair during the third quarter valued at $39,000. GAMMA Investing LLC raised its holdings in Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after purchasing an additional 613 shares during the last quarter. Federated Hermes Inc. acquired a new position in Sinclair during the 4th quarter valued at about $47,000. Point72 DIFC Ltd bought a new position in shares of Sinclair in the 3rd quarter valued at about $91,000. Finally, New York State Common Retirement Fund grew its position in shares of Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after buying an additional 1,700 shares during the period. 41.71% of the stock is currently owned by 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.