Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Recommendation of “Hold” by Brokerages

by · The Markets Daily

Shares of Sinclair, Inc. (NASDAQ:SBGI – Get Free Report) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $19.00.

A number of analysts have weighed in on the company. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Sinclair in a research note on Monday. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Guggenheim boosted their price objective on shares of Sinclair from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 13th.

Read Our Latest Stock Analysis on SBGI

Institutional Investors Weigh In On Sinclair

Hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after buying an additional 1,882 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Sinclair during the third quarter worth $48,000. Raymond James Financial Inc. purchased a new position in Sinclair in the second quarter worth $54,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in Sinclair by 26.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock valued at $55,000 after acquiring an additional 820 shares during the period. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Down 2.2%

Shares of Sinclair stock opened at $14.33 on Friday. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market capitalization of $998.51 million, a P/E ratio of -23.11 and a beta of 0.99. Sinclair has a 1 year low of $11.89 and a 1 year high of $18.45. The company’s fifty day moving average is $14.59 and its two-hundred day moving average is $14.28.

Sinclair (NASDAQ:SBGI – Get Free Report) last announced its earnings results on Wednesday, November 5th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.63. Sinclair had a negative net margin of 1.35% and a negative return on equity of 10.19%. The business had revenue of $773.00 million during the quarter, compared to the consensus estimate of $766.78 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. Analysts forecast that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Monday, December 1st. Sinclair’s payout ratio is -161.29%.

About Sinclair

(Get Free Report)

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.

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