Sinclair (NASDAQ:SBGI) Shares Down 3.8% - What's Next?

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) shares traded down 3.8% on Monday . The company traded as low as $17.00 and last traded at $17.00. 52,499 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 419,835 shares. The stock had previously closed at $17.68.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SBGI shares. Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Rosenblatt Securities lifted their target price on shares of Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a report on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $19.88.

Sinclair Trading Down 1.8 %

The company has a fifty day simple moving average of $14.14 and a two-hundred day simple moving average of $13.56. The company has a market capitalization of $1.15 billion, a P/E ratio of -3.17, a price-to-earnings-growth ratio of 0.14 and a beta of 1.55. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business earned ($1.09) EPS. On average, analysts forecast that Sinclair, Inc. will post 4.57 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL boosted its position in shares of Sinclair by 2.4% in the first quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company's stock valued at $48,374,000 after acquiring an additional 85,070 shares during the period. Capital Management Corp VA raised its stake in Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company's stock valued at $27,031,000 after purchasing an additional 538,740 shares during the last quarter. Alden Global Capital LLC boosted its holdings in Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company's stock valued at $16,341,000 after purchasing an additional 116,074 shares during the period. Gabelli Funds LLC grew its position in Sinclair by 1.7% in the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company's stock worth $16,112,000 after purchasing an additional 20,700 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Sinclair by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 447,519 shares of the company's stock worth $5,965,000 after purchasing an additional 21,360 shares during the period. Institutional investors and hedge funds 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.