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

Sinclair, Inc. (NASDAQ:SBGI) has earned a consensus recommendation 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 assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.10.

Several research analysts have weighed in on the stock. Benchmark restated a “buy” rating and set a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. Guggenheim lifted their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted 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.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $14.92 on Friday. The firm has a market capitalization of $990.99 million, a P/E ratio of -4.52 and a beta of 1.55. The firm’s 50-day moving average price is $16.29 and its 200-day moving average price is $15.54. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 1-year low of $11.13 and a 1-year high of $18.45.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $917.00 million for the quarter, compared to the consensus estimate of $923.02 million. During the same period in the prior year, the business earned ($0.30) EPS. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. Equities research analysts anticipate that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date was Monday, December 2nd. Sinclair’s payout ratio is -30.30%.

Institutional Trading of Sinclair

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

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.