Sinclair (NASDAQ:SBGI) Stock Rating Upgraded by StockNews.com

Sinclair (NASDAQ:SBGI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Several other research analysts also recently issued reports on SBGI. Guggenheim upped their price objective on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Sinclair presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Sinclair Stock Performance

Shares of Sinclair stock opened at $13.87 on Wednesday. The company’s 50 day moving average price is $15.25 and its two-hundred day moving average price is $15.57. The firm has a market capitalization of $921.26 million, a P/E ratio of -4.20 and a beta of 1.55. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.45.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. On average, equities analysts forecast that Sinclair will post 4.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sinclair

Large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Sinclair during the third quarter valued at $39,000. GAMMA Investing LLC lifted its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after purchasing an additional 613 shares during the period. Federated Hermes Inc. bought a new stake in shares of Sinclair during the 4th quarter valued at about $47,000. Point72 DIFC Ltd acquired a new stake in Sinclair during the third quarter worth approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Sinclair in the third quarter worth approximately $121,000. 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.