Sinclair (NASDAQ:SBGI - Free Report) had its target price decreased by Wells Fargo & Company from $19.00 to $17.00 in a research report report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.
Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an "underweight" rating in a report on Tuesday, November 12th. StockNews.com upgraded Sinclair from a "hold" rating to a "buy" rating in a research note on Wednesday, February 26th. Benchmark reissued a "buy" rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Finally, Guggenheim lifted their price target 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.70.
View Our Latest Research Report on SBGI
Sinclair Trading Down 4.2 %
SBGI stock traded down $0.61 on Thursday, reaching $13.91. The company's stock had a trading volume of 512,585 shares, compared to its average volume of 219,896. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair has a 12-month low of $11.13 and a 12-month high of $18.45. The firm has a market cap of $923.92 million, a PE ratio of -4.22 and a beta of 1.55. The business has a fifty day simple moving average of $15.22 and a two-hundred day simple moving average of $15.62.
Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. As a group, research analysts forecast that Sinclair will post 4.24 EPS for the current year.
Sinclair Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 7.19%. Sinclair's dividend payout ratio (DPR) is presently 21.46%.
Hedge Funds Weigh In On Sinclair
A number of hedge funds have recently added to or reduced their stakes in the stock. Pinnacle Associates Ltd. lifted its stake in Sinclair by 2.3% in the third quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company's stock worth $9,834,000 after acquiring an additional 14,384 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Sinclair during the third quarter valued at approximately $39,000. Empowered Funds LLC raised its stake in Sinclair by 5.4% in the third quarter. Empowered Funds LLC now owns 232,090 shares of the company's stock worth $3,551,000 after buying an additional 11,792 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Sinclair during the 3rd quarter valued at $1,605,000. Finally, Quantbot Technologies LP increased its holdings in shares of Sinclair by 103.2% in the 3rd quarter. Quantbot Technologies LP now owns 26,365 shares of the company's stock valued at $403,000 after acquiring an additional 13,390 shares during the period. 41.71% of the stock is currently owned by institutional investors.
About Sinclair
(
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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.
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