Sinclair (NASDAQ:SBGI) Price Target Increased to $30.00 by Analysts at Benchmark

Sinclair (NASDAQ:SBGI) had its target price upped by Benchmark from $29.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on SBGI. StockNews.com lowered Sinclair from a hold rating to a sell rating in a research report on Friday, September 20th. Rosenblatt Securities increased their price target on Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $19.88.

Sinclair Price Performance

SBGI opened at $14.88 on Monday. The stock’s 50-day moving average price is $13.85 and its 200 day moving average price is $13.25. Sinclair has a 12-month low of $9.39 and a 12-month high of $17.58. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a market cap of $984.73 million, a price-to-earnings ratio of -2.09, a PEG ratio of 0.12 and a beta of 1.54.

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

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.72%. Sinclair’s payout ratio is currently -14.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SBGI. Charles Schwab Investment Management Inc. increased its holdings in shares of Sinclair by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock valued at $8,450,000 after acquiring an additional 13,874 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock valued at $24,626,000 after acquiring an additional 78,793 shares during the last quarter. Principal Financial Group Inc. grew its stake in Sinclair by 29.6% during the 4th quarter. Principal Financial Group Inc. now owns 36,926 shares of the company’s stock worth $481,000 after buying an additional 8,436 shares during the last quarter. Boulder Hill Capital Management LP purchased a new position in Sinclair during the 4th quarter worth approximately $147,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Sinclair during the 4th quarter worth approximately $468,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Company Profile

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.