Sinclair (NASDAQ:SBGI) Stock Rating Upgraded by StockNews.com

Sinclair (NASDAQ:SBGI - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday.

Several other research analysts have also recently issued reports on SBGI. Wells Fargo & Company raised Sinclair from an "underweight" rating to an "equal weight" rating and lifted their target price for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. Benchmark reaffirmed a "buy" rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Guggenheim increased 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, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $19.70.

Sinclair Stock Up 4.7 %

SBGI traded up $0.65 during trading on Wednesday, hitting $14.52. 318,129 shares of the company's stock were exchanged, compared to its average volume of 212,395. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45. The stock has a market cap of $964.43 million, a P/E ratio of -4.40 and a beta of 1.55. The business's 50 day moving average is $15.22 and its two-hundred day moving average is $15.60. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

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Sinclair (NASDAQ:SBGI - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. As a group, equities analysts expect that Sinclair will post 4.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Carronade Capital Management LP lifted its stake in Sinclair by 418.1% in the fourth quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock valued at $7,108,000 after purchasing an additional 355,419 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Sinclair during the 3rd quarter valued at $2,110,000. Segall Bryant & Hamill LLC purchased a new position in shares of Sinclair during the 3rd quarter valued at $1,605,000. Trexquant Investment LP bought a new position in shares of Sinclair during the 4th quarter worth $1,688,000. Finally, Empyrean Capital Partners LP increased its holdings in Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock worth $18,472,000 after acquiring an additional 84,493 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

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.