Sinclair (NASDAQ:SBGI) Hits New 1-Year Low at $11.42

Shares of Sinclair, Inc. (NASDAQ:SBGI) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $11.42 and last traded at $11.57, with a volume of 321981 shares traded. The stock had previously closed at $12.62.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Sinclair in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Benchmark reiterated a “buy” rating and set a $25.00 price target on shares of Sinclair in a research note on Wednesday, August 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sinclair from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, August 15th. Finally, TheStreet cut shares of Sinclair from a “b-” rating to a “c” rating in a research note on Monday, June 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.17.

Sinclair Stock Down 10.5 %

The company has a debt-to-equity ratio of 6.53, a quick ratio of 2.41 and a current ratio of 2.41. The stock has a market capitalization of $716.69 million, a P/E ratio of 4.77, a P/E/G ratio of 1.38 and a beta of 1.41. The company’s 50-day moving average price is $13.60 and its 200 day moving average price is $15.44.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.51). The company had revenue of $768.00 million during the quarter, compared to the consensus estimate of $765.72 million. Sinclair had a net margin of 5.14% and a return on equity of 29.58%. As a group, equities analysts expect that Sinclair, Inc. will post 1.69 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.85%. Sinclair’s dividend payout ratio is currently 42.19%.

Institutional Trading of Sinclair

A number of institutional investors and hedge funds have recently bought and sold shares of SBGI. MetLife Investment Management LLC increased its holdings in shares of Sinclair by 54.9% in the 1st quarter. MetLife Investment Management LLC now owns 24,420 shares of the company’s stock worth $684,000 after buying an additional 8,654 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Sinclair by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,945,312 shares of the company’s stock worth $110,548,000 after buying an additional 38,631 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Sinclair by 18.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 5,068 shares of the company’s stock worth $150,000 after buying an additional 787 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sinclair by 273.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 314,516 shares of the company’s stock worth $8,812,000 after buying an additional 230,233 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of Sinclair in the 1st quarter worth about $216,000. 86.19% of the stock is currently owned by institutional investors.

About Sinclair

Sinclair, Inc, a media company, focuses on providing content on local television stations and digital platforms. The company distributes its content through broadcast platforms and third-party platforms that consist of programming provided by third-party networks and syndicators, local news, other original programming, and college sports.