Sinclair (SBGI) to Release Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI - Get Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Sinclair to post earnings of $0.89 per share for the quarter. Sinclair has set its Q3 2024 guidance at EPS.Persons that are interested in registering for the company's earnings conference call can do so using this link.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. During the same quarter in the previous year, the business earned ($1.09) EPS. The company's quarterly revenue was up 7.9% compared to the same quarter last year.

Sinclair Trading Up 1.7 %

Sinclair stock traded up $0.29 during midday trading on Wednesday, reaching $17.35. 275,799 shares of the stock traded hands, compared to its average volume of 413,951. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a market cap of $1.15 billion, a PE ratio of -3.12, a price-to-earnings-growth ratio of 0.14 and a beta of 1.55. The company has a 50-day simple moving average of $15.10 and a two-hundred day simple moving average of $13.92. Sinclair has a 12-month low of $10.31 and a 12-month high of $17.98.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair's payout ratio is currently -18.28%.

Wall Street Analyst Weigh In

Several research firms have commented on SBGI. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research note on Saturday, September 28th. Rosenblatt Securities lifted their target price on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, Benchmark upped their price target on Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Sinclair presently has a consensus rating of "Hold" and a consensus price target of $19.88.

Sinclair Company Profile

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.