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

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been assigned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.14.

A number of analysts recently commented on SBGI shares. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Wells Fargo & Company lifted their price objective on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, March 1st.

Sinclair Trading Up 2.5 %

NASDAQ SBGI opened at $11.71 on Tuesday. The company has a debt-to-equity ratio of 15.29, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $774.97 million, a price-to-earnings ratio of -1.64, a price-to-earnings-growth ratio of 0.22 and a beta of 1.54. The company’s 50-day simple moving average is $12.91 and its two-hundred day simple moving average is $13.56. Sinclair has a one year low of $9.39 and a one year high of $17.58.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.97. The firm had revenue of $798.00 million for the quarter, compared to the consensus estimate of $798.68 million. Sinclair had a negative net margin of 14.34% and a negative return on equity of 2.65%. Equities analysts forecast that Sinclair will post 3.75 EPS for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.54%. The ex-dividend date was Monday, June 3rd. Sinclair’s dividend payout ratio (DPR) is -14.04%.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently made changes to their positions in the company. Caxton Associates LP purchased a new position in shares of Sinclair during the 1st quarter valued at approximately $213,000. Price T Rowe Associates Inc. MD increased its holdings in Sinclair by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock worth $1,549,000 after acquiring an additional 39,624 shares in the last quarter. Gabelli Funds LLC increased its holdings in Sinclair by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 1,188,000 shares of the company’s stock worth $16,002,000 after acquiring an additional 11,200 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Sinclair by 2.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after acquiring an additional 85,070 shares in the last quarter. Finally, EntryPoint Capital LLC increased its holdings in Sinclair by 37.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after acquiring an additional 1,085 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other 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.