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

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have received an average rating of "Hold" from the five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.10.

Several analysts have issued reports on the company. Rosenblatt Securities upped their price objective on Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a research note on Friday, September 20th. StockNews.com upgraded Sinclair from a "sell" rating to a "hold" rating in a research note on Saturday, September 28th. Wells Fargo & Company raised shares of Sinclair from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. Benchmark increased their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Finally, Guggenheim raised their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Sinclair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in Sinclair in the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its stake in Sinclair by 81.6% in the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock valued at $35,000 after acquiring an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Sinclair during the third quarter valued at approximately $39,000. Headlands Technologies LLC lifted its stake in Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company's stock worth $62,000 after purchasing an additional 4,239 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Sinclair in the 3rd quarter valued at $91,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Stock Down 0.8 %

Shares of NASDAQ:SBGI traded down $0.14 during midday trading on Friday, hitting $17.22. The stock had a trading volume of 286,176 shares, compared to its average volume of 399,931. The company has a market cap of $1.14 billion, a P/E ratio of -5.22, a PEG ratio of 0.16 and a beta of 1.55. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.45. The business's 50-day simple moving average is $17.09 and its 200-day simple moving average is $14.82. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.54. The company had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) EPS. On average, sell-side analysts forecast that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Monday, December 2nd. Sinclair's dividend payout ratio (DPR) is currently -30.30%.

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.