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

Sinclair, Inc. (NASDAQ:SBGI) has earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat.com reports. One equities research 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 objective among analysts that have issued ratings on the stock in the last year is $20.10.

A number of analysts recently commented on the company. Guggenheim lifted their price target on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. StockNews.com upgraded shares of Sinclair from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Sinclair

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Sinclair by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after acquiring an additional 760 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after purchasing an additional 1,700 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Sinclair by 5.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company’s stock worth $590,000 after acquiring an additional 2,035 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Sinclair in the third quarter worth about $39,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Stock Performance

NASDAQ SBGI opened at $14.45 on Thursday. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company has a fifty day moving average price of $15.30 and a 200-day moving average price of $15.58. Sinclair has a 1 year low of $11.13 and a 1 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.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. As a group, equities research analysts predict that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued 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%.

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.