Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of “Hold” by Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.30.

Several equities analysts recently weighed in on SBGI shares. Wells Fargo & Company reduced their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. Guggenheim lowered their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th.

Sinclair Stock Performance

Shares of NASDAQ SBGI opened at $16.96 on Monday. The company has a 50-day simple moving average of $14.82 and a 200-day simple moving average of $15.76. 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 company has a market cap of $1.13 billion, a PE ratio of -5.14 and a beta of 1.50. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.46.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.62. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. On average, equities analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently 21.46%.

Insider Buying and Selling at Sinclair

In other Sinclair news, Chairman David D. Smith bought 38,410 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired at an average price of $14.01 per share, with a total value of $538,124.10. Following the purchase, the chairman now owns 645,564 shares in the company, valued at approximately $9,044,351.64. The trade was a 6.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 244,639 shares of company stock valued at $3,550,290 over the last ninety days. Corporate insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after buying an additional 613 shares during the period. Federated Hermes Inc. acquired a new position in Sinclair during the 4th quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new position in Sinclair in the 3rd quarter worth approximately $91,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Sinclair in the third quarter valued at approximately $121,000. Finally, New York State Common Retirement Fund grew its position in Sinclair by 29.4% in the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after acquiring an additional 1,700 shares in the last quarter. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.