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

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Monday, December 2nd.

Sinclair has raised its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a payout ratio of 2,500.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Sinclair Stock Down 6.1 %

Shares of SBGI traded down $1.03 during midday trading on Friday, reaching $15.90. The stock had a trading volume of 546,134 shares, compared to its average volume of 414,065. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78. The company's fifty day simple moving average is $15.56 and its two-hundred day simple moving average is $14.14. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.96, a PEG ratio of 0.14 and a beta of 1.53. Sinclair has a 1-year low of $11.13 and a 1-year high of $18.20.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results 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. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $836.65 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 69.78%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.09) EPS. Equities research analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SBGI shares. Wells Fargo & Company raised Sinclair from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $13.00 to $19.00 in a report on Thursday. Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a "buy" rating in a report on Monday, September 23rd. Rosenblatt Securities raised their price objective 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 research report on Saturday, September 28th.

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.