Sinclair, Inc. (SBGI) To Go Ex-Dividend on March 10th

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend is Monday, March 10th.

Sinclair has increased its dividend by an average of 7.7% per year over the last three years. Sinclair has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Trading Down 4.0 %

NASDAQ:SBGI opened at $13.87 on Friday. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.45. The business’s 50-day moving average is $15.25 and its two-hundred day moving average is $15.57. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The firm has a market capitalization of $921.26 million, a PE ratio of -4.20 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Research analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SBGI. Wells Fargo & Company reduced their price target on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday. Benchmark reissued a “buy” rating and set a $30.00 price target on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com raised shares of Sinclair from a “hold” rating to a “buy” rating in a report on Wednesday. Guggenheim raised their price objective on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.70.

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.