Sinclair (NASDAQ:SBGI) Share Price Passes Above 200 Day Moving Average – Here’s Why

Sinclair, Inc. (NASDAQ:SBGI) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.36 and traded as high as $14.54. Sinclair shares last traded at $14.10, with a volume of 559,469 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Benchmark dropped their price objective on shares of Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Guggenheim dropped their price target on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sinclair in a research note on Saturday, September 27th. Wells Fargo & Company lowered their target price on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. Finally, Zacks Research raised Sinclair to a “hold” rating in a report on Thursday, August 21st. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sinclair presently has an average rating of “Hold” and an average price target of $18.75.

Sinclair Trading Down 2.8%

The firm’s 50 day moving average is $14.15 and its 200 day moving average is $14.36. The company has a debt-to-equity ratio of 13.93, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market cap of $982.07 million, a PE ratio of 16.99 and a beta of 1.31.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.19). The firm had revenue of $784.00 million during the quarter, compared to the consensus estimate of $798.16 million. Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.27 earnings per share. On average, equities analysts anticipate that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, August 29th. Sinclair’s dividend payout ratio is currently 120.48%.

Institutional Trading of Sinclair

A number of large investors have recently modified their holdings of SBGI. Geneos Wealth Management Inc. grew its holdings in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after purchasing an additional 1,882 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Sinclair during the second quarter valued at approximately $54,000. Ameritas Investment Partners Inc. lifted its position in Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $55,000 after purchasing an additional 820 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Sinclair in the 1st quarter worth approximately $58,000. 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.