Guggenheim Boosts Sinclair (NASDAQ:SBGI) Price Target to $19.00

Sinclair (NASDAQ:SBGI) had its price target increased by investment analysts at Guggenheim from $18.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 15.15% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark raised their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Rosenblatt Securities boosted their price target on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and an average price target of $20.10.

Sinclair Stock Performance

SBGI stock opened at $16.50 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of -5.00, a P/E/G ratio of 0.14 and a beta of 1.53. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The business has a 50 day moving average of $15.98 and a 200-day moving average of $14.36. Sinclair has a 12-month low of $11.13 and a 12-month high of $18.20.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million during the quarter, compared to analyst estimates of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Sinclair’s revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.30) earnings per share. As a group, sell-side analysts expect that Sinclair will post 4.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EntryPoint Capital LLC boosted its position in Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after acquiring an additional 1,085 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Sinclair by 2.4% during the first 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 during the last quarter. Gabelli Funds LLC boosted its position in Sinclair by 1.0% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $1,549,000 after purchasing an additional 39,624 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in Sinclair in the 1st quarter valued at about $213,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.