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

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) announced a quarterly dividend on Sunday, March 2nd, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date of this dividend is Monday, March 10th.

Sinclair has increased its dividend payment by an average of 7.7% annually over the last three years. Sinclair has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. 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

SBGI stock traded up $0.65 during trading on Friday, reaching $14.52. 318,129 shares of the company were exchanged, compared to its average volume of 212,395. The company has a market cap of $964.43 million, a P/E ratio of -4.40 and a beta of 1.55. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.45. The stock's 50 day moving average price is $15.22 and its 200 day moving average price is $15.62. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.01 billion. As a group, analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

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Analyst Ratings Changes

Several brokerages have issued reports on SBGI. Wells Fargo & Company reduced their price target on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday. Guggenheim upped their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Benchmark reaffirmed a "buy" rating and issued a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. StockNews.com raised shares of Sinclair from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Sinclair has an average rating of "Hold" and an average price target of $19.70.

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.