Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Rating of "Hold" by Brokerages

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has been assigned a consensus rating of "Hold" from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.30.

A number of research firms have recently weighed in on SBGI. Wells Fargo & Company lowered their price target on Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Thursday, February 27th. Guggenheim cut their target price on Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. StockNews.com cut Sinclair from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Benchmark restated a "buy" rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th.

Sinclair Price Performance

SBGI stock traded down $1.10 during midday trading on Monday, reaching $15.67. The stock had a trading volume of 330,858 shares, compared to its average volume of 341,444. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.46. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -4.75 and a beta of 1.50. The company's fifty day simple moving average is $14.89 and its 200 day simple moving average is $15.82. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

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Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $1.01 billion. As a group, sell-side analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.38%. Sinclair's dividend payout ratio (DPR) is currently 21.46%.

Insider Activity

In other news, Chairman David D. Smith acquired 30,296 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were bought at an average price of $14.09 per share, with a total value of $426,870.64. Following the completion of the acquisition, the chairman now owns 728,986 shares in the company, valued at $10,271,412.74. This trade represents a 4.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have acquired 262,541 shares of company stock worth $3,844,778. 46.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company's stock worth $47,000 after purchasing an additional 613 shares during the period. Federated Hermes Inc. purchased a new position in Sinclair in the 4th quarter valued at $47,000. Point72 DIFC Ltd acquired a new position in Sinclair in the 3rd quarter valued at $91,000. New York State Common Retirement Fund raised its position in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after buying an additional 1,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Sinclair in the 4th quarter worth $123,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

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.