Sinclair (NASDAQ:SBGI) PT Raised to $13.00

Sinclair (NASDAQ:SBGIFree Report) had its price target increased by Wells Fargo & Company from $12.00 to $13.00 in a report published on Friday, Benzinga reports. The firm currently has an underweight rating on the stock.

SBGI has been the subject of several other reports. Rosenblatt Securities raised their target price on Sinclair from $10.40 to $15.70 and gave the company a neutral rating in a research note on Thursday, January 18th. Guggenheim reduced their target price on Sinclair from $30.00 to $20.00 and set a buy rating for the company in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sinclair presently has a consensus rating of Hold and an average price target of $18.14.

Check Out Our Latest Stock Analysis on Sinclair

Sinclair Stock Performance

SBGI stock opened at $13.76 on Friday. The stock has a 50-day moving average price of $14.76 and a 200-day moving average price of $13.05. Sinclair has a 1-year low of $9.39 and a 1-year high of $21.17. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 7.10. The firm has a market cap of $873.90 million, a PE ratio of -2.85 and a beta of 1.42.

Sinclair (NASDAQ:SBGIGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.35. Sinclair had a positive return on equity of 21.98% and a negative net margin of 9.29%. The firm had revenue of $826.00 million during the quarter, compared to analyst estimates of $838.75 million. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was down 14.0% on a year-over-year basis. As a group, equities research analysts expect that Sinclair will post 1.06 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a yield of 7.27%. Sinclair’s dividend payout ratio (DPR) is currently -20.70%.

Insider Buying and Selling at Sinclair

In other Sinclair news, SVP David B. Gibber sold 20,607 shares of Sinclair stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $13.33, for a total transaction of $274,691.31. Following the completion of the transaction, the senior vice president now owns 1,949 shares in the company, valued at approximately $25,980.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 41.70% of the company’s stock.

Hedge Funds Weigh In On Sinclair

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Sinclair by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,945,312 shares of the company’s stock worth $110,548,000 after buying an additional 38,631 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Sinclair by 2.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 3,524,743 shares of the company’s stock worth $39,548,000 after buying an additional 91,870 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Sinclair by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,423,977 shares of the company’s stock worth $44,614,000 after buying an additional 32,439 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Sinclair by 1,068.9% in the 4th quarter. Millennium Management LLC now owns 2,082,069 shares of the company’s stock worth $32,293,000 after buying an additional 1,903,947 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after buying an additional 78,793 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Sinclair Company Profile

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Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.

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Analyst Recommendations for Sinclair (NASDAQ:SBGI)

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