Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of "Hold" by Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have been assigned a consensus rating of "Hold" from the five brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.10.

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

Hedge Funds Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. nVerses Capital LLC bought a new position in Sinclair in the second quarter worth approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company's stock worth $35,000 after purchasing an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Sinclair in the 3rd quarter valued at $39,000. EntryPoint Capital LLC increased its stake in Sinclair by 37.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company's stock valued at $54,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings 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 buying an additional 4,239 shares during the last quarter. Institutional investors own 41.71% of the company's stock.

Sinclair Trading Up 2.7 %

NASDAQ SBGI traded up $0.43 during trading hours on Tuesday, reaching $16.36. The company's stock had a trading volume of 242,238 shares, compared to its average volume of 411,742. The firm has a fifty day simple moving average of $15.92 and a 200-day simple moving average of $14.34. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.20. The stock has a market cap of $1.09 billion, a P/E ratio of -4.96, a P/E/G ratio of 0.14 and a beta of 1.53.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.54. The company had revenue of $917.00 million for the quarter, compared to analyst estimates of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. Sinclair's revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.30) earnings per share. Equities analysts forecast that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.11%. Sinclair's dividend payout ratio 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.