Sinclair, Inc. (NASDAQ:SBGI) Announces Quarterly Dividend of $0.25

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Monday, December 2nd.

Sinclair has increased its dividend payment by an average of 7.7% annually over the last three years. Sinclair has a payout ratio of 2,500.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Sinclair Trading Down 2.8 %

NASDAQ:SBGI opened at $16.93 on Friday. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.20. 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 stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.10, a PEG ratio of 0.14 and a beta of 1.53. The firm has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $14.14.

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

Wall Street Analyst Weigh In

SBGI has been the subject of a number of research reports. Benchmark raised their price objective on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $19.00 in a research note on Thursday. Rosenblatt Securities raised their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th.

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.