Sinclair, Inc. (NASDAQ:SBGI) Receives Average Rating of “Hold” from Analysts

Sinclair, Inc. (NASDAQ:SBGI) has received a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.50.

Several equities analysts have recently weighed in on SBGI shares. Wall Street Zen downgraded Sinclair from a “hold” rating to a “sell” rating in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their price objective on Sinclair from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, May 21st. Guggenheim reaffirmed a “buy” rating on shares of Sinclair in a research note on Thursday, May 15th. Finally, Benchmark reduced their target price on shares of Sinclair from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th.

Sinclair Stock Performance

SBGI opened at $14.91 on Friday. The firm’s fifty day simple moving average is $14.13 and its two-hundred day simple moving average is $14.61. Sinclair has a 52-week low of $12.06 and a 52-week high of $18.45. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 7.42 and a beta of 1.30. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 11.32.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a return on equity of 34.15% and a net margin of 3.72%. The company had revenue of $776.00 million for the quarter, compared to analyst estimates of $774.79 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts anticipate that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, May 30th. Sinclair’s dividend payout ratio (DPR) is presently 49.75%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. purchased a new stake in shares of Sinclair in the fourth quarter valued at about $47,000. DekaBank Deutsche Girozentrale acquired a new position in Sinclair in the 1st quarter valued at about $58,000. NBC Securities Inc. grew its stake in shares of Sinclair by 105,075.0% in the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company’s stock valued at $67,000 after buying an additional 4,203 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Sinclair by 71.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company’s stock valued at $79,000 after buying an additional 2,058 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Sinclair during the 1st quarter worth approximately $119,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.