Guggenheim Forecasts Strong Price Appreciation for Sinclair (NASDAQ:SBGI) Stock

Sinclair (NASDAQ:SBGI - Get Free Report) had its target price raised by analysts at Guggenheim from $18.00 to $19.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Guggenheim's target price suggests a potential upside of 16.14% from the company's current price.

A number of other brokerages also recently commented on SBGI. Wells Fargo & Company raised shares of Sinclair from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark upped their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. StockNews.com upgraded shares of Sinclair from a "sell" rating to a "hold" rating in a research report on Saturday, September 28th. Rosenblatt Securities increased their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a "neutral" rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their target price on shares of Sinclair from $14.00 to $16.00 and gave the company an "underweight" rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sinclair presently has a consensus rating of "Hold" and an average price target of $20.10.

Sinclair Stock Performance

Shares of SBGI traded up $0.43 during mid-day trading on Tuesday, hitting $16.36. 242,238 shares of the company's stock were exchanged, compared to its average volume of 411,742. The firm has a market capitalization 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 has a fifty-two week low of $11.13 and a fifty-two week high of $18.20. The business's 50 day moving average is $15.92 and its two-hundred day moving average is $14.34. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (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 analysts' expectations of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company posted ($0.30) earnings per share. On average, equities analysts expect that Sinclair will post 4.24 earnings per share for the current year.

Institutional Trading of Sinclair

A number of institutional investors have recently made changes to their positions in the business. EntryPoint Capital LLC increased its holdings in shares of Sinclair by 37.2% in the first 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 during the last quarter. Gamco Investors INC. ET AL increased its position in Sinclair by 2.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company's stock valued at $48,374,000 after purchasing an additional 85,070 shares during the period. Gabelli Funds LLC increased its position in Sinclair by 1.0% during the 1st quarter. Gabelli Funds LLC now owns 1,188,000 shares of the company's stock valued at $16,002,000 after purchasing an additional 11,200 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Sinclair by 52.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company's stock worth $1,549,000 after buying an additional 39,624 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Sinclair during the 1st quarter worth approximately $213,000. Institutional investors own 41.71% of the company's stock.

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.