Sinclair’s (SBGI) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of Sinclair (NASDAQ:SBGI) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

Other analysts have also recently issued reports about the company. Guggenheim upped their target price on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $13.00 to $19.00 in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.10.

Sinclair Stock Up 0.5 %

Shares of NASDAQ:SBGI opened at $14.72 on Tuesday. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.45. The company has a market capitalization of $977.70 million, a PE ratio of -4.46 and a beta of 1.57. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company has a fifty day moving average of $16.46 and a 200-day moving average of $15.55.

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. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. During the same period last year, the company earned ($0.30) earnings per share. The business’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities analysts predict that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.79%. Sinclair’s payout ratio is presently -30.30%.

Institutional Investors Weigh In On Sinclair

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Sinclair by 81.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after purchasing an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Sinclair during the 3rd quarter worth approximately $39,000. nVerses Capital LLC boosted its holdings in Sinclair by 71.4% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $55,000 after acquiring an additional 1,500 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Sinclair in the third quarter valued at approximately $91,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Sinclair during the third quarter valued at approximately $121,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.