Sinclair (NASDAQ:SBGI) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Sinclair (NASDAQ:SBGI) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $14.00 to $16.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.12% from the stock’s current price.

Several other brokerages also recently weighed in on SBGI. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $13.00 to $19.00 in a report on Thursday, November 7th. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Benchmark boosted their price target 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. Finally, Rosenblatt Securities boosted their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.38.

Sinclair Stock Performance

Shares of SBGI stock opened at $16.02 on Tuesday. The company has a 50 day moving average price of $15.69 and a 200-day moving average price of $14.24. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.20. The firm has a market capitalization of $1.06 billion, a PE ratio of -4.85, a P/E/G ratio of 0.13 and a beta of 1.53. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. The company had revenue of $917.00 million for the quarter, compared to the consensus estimate 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 revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.30) earnings per share. As a group, equities research analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Institutional Trading of Sinclair

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in Sinclair in the second quarter worth about $28,000. GAMMA Investing LLC lifted its position in shares of Sinclair by 81.6% during the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after buying an additional 1,026 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Sinclair during the third quarter valued at about $39,000. EntryPoint Capital LLC lifted its position in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after buying an additional 1,085 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares during the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Company Profile

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.