Sinclair, Inc. (NASDAQ:SBGI) Receives $19.30 Average Price Target from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $19.30.

Several brokerages recently issued reports on SBGI. Wells Fargo & Company decreased their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Guggenheim dropped their price objective on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, StockNews.com lowered shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Sinclair Trading Down 0.3 %

SBGI opened at $15.63 on Monday. The firm’s fifty day moving average is $14.92 and its two-hundred day moving average is $15.88. The firm has a market cap of $1.04 billion, a PE ratio of -4.74 and a beta of 1.50. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.46. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91.

Sinclair (NASDAQ:SBGI) last posted its earnings results 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Equities research analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is currently 21.46%.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith purchased 30,296 shares of Sinclair stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $14.09 per share, with a total value of $426,870.64. Following the completion of the transaction, the chairman now owns 728,986 shares of the company’s stock, valued at approximately $10,271,412.74. This trade represents a 4.34 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have acquired 262,541 shares of company stock worth $3,844,778. Insiders own 46.60% of the company’s stock.

Institutional Investors Weigh In On Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the last quarter. Federated Hermes Inc. acquired a new position in shares of Sinclair during the 4th quarter worth about $47,000. Point72 DIFC Ltd bought a new stake in shares of Sinclair in the 3rd quarter valued at about $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sinclair in the 3rd quarter valued at about $121,000. Finally, New York State Common Retirement Fund grew its holdings in Sinclair by 29.4% during 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 period. 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.