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

Sinclair, Inc. (NASDAQ:SBGI) has been given an average rating of “Hold” by the five analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $19.70.

Several equities research analysts have weighed in on SBGI shares. Wells Fargo & Company dropped their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. StockNews.com cut Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Guggenheim raised their target price on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th.

Sinclair Trading Up 5.7 %

NASDAQ SBGI opened at $14.33 on Thursday. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a 50 day simple moving average of $15.10 and a two-hundred day simple moving average of $15.62. The stock has a market cap of $951.81 million, a P/E ratio of -4.34 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. On average, analysts forecast that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Insider Activity at Sinclair

In related news, Chairman David D. Smith acquired 38,410 shares of Sinclair stock in a transaction that occurred on Monday, March 3rd. The stock was bought at an average price of $14.01 per share, with a total value of $538,124.10. Following the transaction, the chairman now directly owns 645,564 shares in the company, valued at approximately $9,044,351.64. This represents a 6.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 46.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Sinclair by 19.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after purchasing an additional 14,344 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Sinclair by 52.9% in the 4th quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after purchasing an additional 73,006 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Sinclair by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after purchasing an additional 760 shares in the last quarter. Empyrean Capital Partners LP increased its holdings in shares of Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock worth $18,472,000 after purchasing an additional 84,493 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Sinclair in the 4th quarter worth $395,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Company Profile

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.