Sinclair, Inc. (NASDAQ:SBGI) Receives $19.30 Consensus Price Target from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned a consensus rating of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $19.30.

SBGI has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim lowered their price target on Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research 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 Trading Down 0.3 %

Sinclair stock opened at $15.63 on Monday. The business has a 50 day moving average price of $14.92 and a two-hundred day moving average price of $15.83. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.46. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -4.74 and a beta of 1.50.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping 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 firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. As a group, equities analysts forecast that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date was Monday, March 10th. Sinclair’s dividend payout ratio is currently 21.46%.

Insider Transactions at Sinclair

In related news, Chairman David D. Smith bought 38,410 shares of Sinclair stock in a transaction dated Monday, March 3rd. The shares were bought at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the completion of the transaction, the chairman now owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. This trade represents a 6.33 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 262,541 shares of company stock worth $3,844,778. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SBGI. GAMMA Investing LLC increased its stake in shares of Sinclair by 26.9% in the 4th quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares during the period. Federated Hermes Inc. acquired a new stake in Sinclair in the fourth quarter worth about $47,000. Point72 DIFC Ltd bought a new stake in Sinclair during the 3rd quarter worth about $91,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Sinclair during the 3rd quarter worth about $121,000. Finally, New York State Common Retirement Fund lifted its position in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock valued at $121,000 after purchasing an additional 1,700 shares during the period. 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.