Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $20.10

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $20.10.

Several equities analysts have issued reports on SBGI shares. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. JPMorgan Chase & Co. raised their price objective on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Rosenblatt Securities raised their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. Finally, Guggenheim raised their price target on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday.

Sinclair Stock Up 4.1 %

NASDAQ:SBGI opened at $17.17 on Tuesday. 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 stock’s fifty day moving average is $16.06 and its two-hundred day moving average is $14.37. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.20. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -5.00, a price-to-earnings-growth ratio of 0.15 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $0.89 by $0.54. The firm had revenue of $917.00 million for 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 for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.30) earnings per share. Research analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.82%. Sinclair’s payout ratio is -30.30%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL grew its stake 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 during the period. Alden Global Capital LLC grew its stake in Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after acquiring an additional 116,074 shares during the period. Gabelli Funds LLC grew its stake in Sinclair by 1.7% in the 2nd quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after acquiring an additional 20,700 shares during the period. Geode Capital Management LLC grew its stake in Sinclair by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock worth $12,655,000 after acquiring an additional 15,263 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Sinclair by 2.3% in the 3rd 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. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.