Sinclair, Inc. (NASDAQ:SBGI) Declares Quarterly Dividend of $0.25

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 annualized dividend and a dividend yield of 6.92%.

Sinclair has increased its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Price Performance

Shares of SBGI opened at $14.45 on Thursday. The company has a 50 day moving average price of $15.30 and a 200-day moving average price of $15.58. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The stock has a market capitalization of $959.78 million, a PE ratio of -4.38 and a beta of 1.55. 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 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Equities analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Guggenheim increased their target price on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a research 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 decreased their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.70.

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.