Benchmark Reaffirms Buy Rating for Sinclair (NASDAQ:SBGI)

Sinclair (NASDAQ:SBGI - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at Benchmark in a note issued to investors on Tuesday,Benzinga reports. They presently have a $30.00 price target on the stock. Benchmark's price objective suggests a potential upside of 106.90% from the company's current price.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised 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. Guggenheim upped their target price on Sinclair from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company upgraded Sinclair from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Sinclair presently has a consensus rating of "Hold" and a consensus price target of $20.10.

Sinclair Stock Down 2.4 %

SBGI traded down $0.35 during trading on Tuesday, reaching $14.50. The company had a trading volume of 203,184 shares, compared to its average volume of 219,569. The company has a market cap of $963.09 million, a P/E ratio of -4.39 and a beta of 1.57. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.45. 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 business's fifty day moving average price is $16.54 and its 200 day moving average price is $15.56.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. The firm had revenue of $917.00 million for the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company's revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.30) EPS. Equities analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in shares of Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock worth $35,000 after purchasing an additional 1,026 shares during the period. Harbor Capital Advisors Inc. bought a new position in Sinclair during the 3rd quarter worth $39,000. nVerses Capital LLC lifted its holdings in shares of Sinclair by 71.4% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $55,000 after buying an additional 1,500 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Sinclair in the third quarter valued at about $91,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Sinclair in the third quarter valued at about $121,000. 41.71% of the stock is owned by institutional investors.

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.