StockNews.com Downgrades Sinclair (NASDAQ:SBGI) to Sell

Sinclair (NASDAQ:SBGI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Separately, Rosenblatt Securities raised their price target on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday.

Sinclair Stock Up 4.3 %

Shares of NASDAQ:SBGI opened at $14.67 on Friday. Sinclair has a 1 year low of $9.39 and a 1 year high of $17.58. The company has a market capitalization of $970.83 million, a PE ratio of -2.06, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54. The business has a fifty day moving average price of $13.90 and a two-hundred day moving average price of $13.22. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. During the same quarter in the prior year, the business earned ($1.09) earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that Sinclair will post 4.57 earnings per share for the current year.

Hedge Funds Weigh In On Sinclair

Several large investors have recently modified their holdings of the business. EntryPoint Capital LLC boosted its holdings in shares of Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after acquiring an additional 1,085 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sinclair by 29.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock worth $111,000 after purchasing an additional 1,898 shares in the last quarter. Prospect Financial Services LLC boosted its stake in Sinclair by 7.7% in the 2nd quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock worth $373,000 after purchasing an additional 2,000 shares during the period. nVerses Capital LLC purchased a new position in Sinclair during the 2nd quarter valued at about $28,000. Finally, Principal Financial Group Inc. grew its holdings in Sinclair by 14.0% during the 2nd quarter. Principal Financial Group Inc. now owns 23,248 shares of the company’s stock valued at $310,000 after buying an additional 2,847 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.