Sinclair, Inc. (NASDAQ:SBGI) Receives $20.10 Average Price Target from Brokerages

Sinclair, Inc. (NASDAQ:SBGI) has been given a consensus recommendation of “Hold” by the five brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.10.

SBGI has been the topic of several recent research reports. Rosenblatt Securities raised their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Benchmark raised their price objective on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Guggenheim upped their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $13.00 to $19.00 in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th.

Hedge Funds Weigh In On Sinclair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its stake in Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock worth $831,000 after acquiring an additional 42,887 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Sinclair by 1.9% in the third quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after purchasing an additional 15,263 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Sinclair in the third quarter worth $91,000. Point72 Asset Management L.P. purchased a new stake in Sinclair during the third quarter valued at $2,110,000. Finally, Parallax Volatility Advisers L.P. lifted its position in Sinclair by 38.9% during the third quarter. Parallax Volatility Advisers L.P. now owns 52,472 shares of the company’s stock valued at $803,000 after purchasing an additional 14,683 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Sinclair Price Performance

NASDAQ SBGI opened at $16.18 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The firm has a market capitalization of $1.07 billion, a P/E ratio of -4.90, a PEG ratio of 0.15 and a beta of 1.55. The company has a 50-day moving average price of $17.11 and a 200-day moving average price of $14.92. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.45.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.30) EPS. Equities research analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 6.18%. Sinclair’s dividend payout ratio (DPR) is -30.30%.

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.