Sinclair (SBGI) Set to Announce Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Sinclair has set its Q1 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.46 by $0.35. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. The business had revenue of $826.00 million for the quarter, compared to the consensus estimate of $838.75 million. During the same quarter in the prior year, the business earned $0.90 earnings per share. Sinclair’s revenue for the quarter was down 14.0% on a year-over-year basis. On average, analysts expect Sinclair to post $2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sinclair Stock Performance

NASDAQ:SBGI opened at $13.21 on Monday. Sinclair has a 1 year low of $9.39 and a 1 year high of $17.58. The company has a debt-to-equity ratio of 18.73, a current ratio of 1.34 and a quick ratio of 1.34. The business has a fifty day simple moving average of $12.80 and a two-hundred day simple moving average of $13.42. The company has a market capitalization of $840.16 million, a P/E ratio of -2.73, a P/E/G ratio of 0.32 and a beta of 1.38.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.57%. The ex-dividend date was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is currently -20.70%.

Wall Street Analysts Forecast Growth

SBGI has been the subject of several recent research reports. StockNews.com downgraded shares of Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Wells Fargo & Company boosted their target price on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Finally, Rosenblatt Securities raised their price target on Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.14.

Insider Buying and Selling at Sinclair

In other news, Director Daniel C. Keith sold 30,086 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at $407,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel C. Keith sold 30,086 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the sale, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $407,400. The disclosure for this sale can be found here. Insiders own 39.60% of the company’s stock.

Sinclair Company Profile

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.