Sinclair, Inc. (NASDAQ:SBGI) Stock Rated “Hold” by Wall Street Analysts
by Sarita Garza · The Markets DailySinclair, Inc. (NASDAQ:SBGI – Get Free Report) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $19.40.
A number of research firms recently issued reports on SBGI. JPMorgan Chase & Co. boosted their price objective on Sinclair from $14.00 to $15.00 and gave the company an “underweight” rating in a research report on Friday, August 21st. Zacks Research raised Sinclair from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Wall Street Zen cut Sinclair from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings raised shares of Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 25th.
Check Out Our Latest Stock Report on SBGI
Sinclair Price Performance
SBGI opened at $12.74 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 13.28. The company’s 50-day moving average price is $13.93 and its 200 day moving average price is $14.13. Sinclair has a fifty-two week low of $12.46 and a fifty-two week high of $17.88. The firm has a market cap of $921.36 million, a price-to-earnings ratio of 16.99 and a beta of 1.05.
Sinclair (NASDAQ:SBGI – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.82). The company had revenue of $840.00 million during the quarter, compared to analyst estimates of $838.99 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.91) earnings per share. As a group, sell-side analysts expect that Sinclair will post 1.01 earnings per share for the current year.
Sinclair Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were given a $0.25 dividend. The ex-dividend date was Monday, August 31st. This represents a $1.00 annualized dividend and a yield of 7.8%. Sinclair’s dividend payout ratio (DPR) is currently 133.33%.
Insider Activity
In other Sinclair news, EVP David Gibber sold 29,246 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $13.74, for a total transaction of $401,840.04. Following the completion of the transaction, the executive vice president directly owned 184,244 shares of the company’s stock, valued at $2,531,512.56. The trade was a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Keith sold 17,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $15.02, for a total transaction of $255,340.00. Following the completion of the transaction, the director owned 25,122 shares of the company’s stock, valued at approximately $377,332.44. This trade represents a 40.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 46,446 shares of company stock worth $659,880. 42.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Sinclair
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waverly Advisors LLC raised its stake in shares of Sinclair by 9.7% during the second quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock valued at $190,000 after purchasing an additional 1,181 shares in the last quarter. Odyssean LLC bought a new position in Sinclair in the 2nd quarter valued at about $242,000. Public Employees Retirement System of Ohio bought a new position in Sinclair in the 2nd quarter valued at about $100,000. Empowered Funds LLC acquired a new position in Sinclair during the 1st quarter valued at about $191,000. Finally, Converium Capital Inc. increased its stake in Sinclair by 15.8% during the 1st quarter. Converium Capital Inc. now owns 1,062,452 shares of the company’s stock valued at $13,748,000 after buying an additional 144,674 shares during the period. 41.71% of the stock is owned by institutional investors.
About Sinclair
Sinclair, Inc (NASDAQ: SBGI) is a diversified media company focused primarily on local television broadcasting in the United States. Through its television stations, the company provides local news, weather, sports, entertainment and syndicated programming to audiences in markets across the country.
Sinclair also develops and distributes content through national and regional networks, digital platforms and streaming services. Its portfolio has included sports-focused programming, news and information services, and digital products designed to extend the reach of its broadcast content across connected televisions, websites and mobile devices.
The company was founded in 1986 by David D.
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