Sinclair, Inc. (NASDAQ:SBGI) Receives Average Rating of “Hold” from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have received a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $19.20.

A number of brokerages recently weighed in on SBGI. Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, June 30th. Wall Street Zen upgraded Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wells Fargo & Company cut their price objective on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Guggenheim reduced their price objective on Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. decreased their target price on Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday, April 1st.

Insider Transactions at Sinclair

In other Sinclair news, Director Daniel C. Keith sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $15.02, for a total transaction of $255,340.00. Following the completion of the sale, the director directly owned 25,122 shares in the company, valued at $377,332.44. The trade was a 40.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 42.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sinclair

A number of hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its stake in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Sinclair during the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC lifted its position in Sinclair by 175.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after acquiring an additional 1,882 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in Sinclair in the 3rd quarter worth approximately $48,000. Finally, Raymond James Financial Inc. purchased a new position in Sinclair in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 0.1%

NASDAQ SBGI opened at $14.34 on Friday. Sinclair has a 12 month low of $11.89 and a 12 month high of $17.88. The company has a 50-day moving average of $14.08 and a 200-day moving average of $14.48. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market cap of $1.03 billion, a P/E ratio of 15.93 and a beta of 1.04.

Sinclair (NASDAQ:SBGI) last released its earnings results on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.96. The firm had revenue of $807.00 million during the quarter, compared to the consensus estimate of $792.63 million. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. Sinclair’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.30) earnings per share. As a group, equities analysts predict that Sinclair will post 1.68 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend was Tuesday, May 26th. Sinclair’s payout ratio is 111.11%.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.