Benchmark Reiterates Buy Rating for Sinclair (NASDAQ:SBGI)

Sinclair (NASDAQ:SBGI)‘s stock had its “buy” rating reiterated by Benchmark in a research report issued on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock. Benchmark’s price target suggests a potential upside of 104.15% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, November 12th. Guggenheim raised their price target on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company upgraded shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned 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 $20.10.

Sinclair Trading Down 1.0 %

Shares of Sinclair stock traded down $0.16 during trading hours on Tuesday, reaching $14.70. 10,580 shares of the company’s stock were exchanged, compared to its average volume of 208,142. The company has a fifty day moving average of $16.56 and a 200-day moving average of $15.55. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.45. The firm has a market capitalization of $976.04 million, a price-to-earnings ratio of -4.45 and a beta of 1.57.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. During the same quarter in the prior year, the company earned ($0.30) EPS. The company’s revenue was up 19.6% on a year-over-year basis. Sell-side analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SBGI. GAMMA Investing LLC raised its position in shares of Sinclair by 26.9% during the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Sinclair by 71.4% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $55,000 after buying an additional 1,500 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Sinclair during the third quarter valued at about $39,000. Hsbc Holdings PLC grew its holdings in Sinclair by 28.0% during the second quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock worth $177,000 after acquiring an additional 2,918 shares during the period. Finally, HighTower Advisors LLC raised its position in Sinclair by 15.4% in the third quarter. HighTower Advisors LLC now owns 28,463 shares of the company’s stock worth $433,000 after acquiring an additional 3,801 shares in the last quarter. 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.