Sinclair, Inc. (NASDAQ:SBGI) Receives $18.30 Average Price Target from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $18.30.

SBGI has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on Sinclair from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 21st. Benchmark lowered their target price on Sinclair from $29.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded Sinclair to a “hold” rating in a research note on Thursday, August 21st. Finally, Guggenheim lowered their price target on Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 14th.

Hedge Funds Weigh In On Sinclair

A number of hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL raised its holdings in shares of Sinclair by 5.4% during the second quarter. Gamco Investors INC. ET AL now owns 3,940,802 shares of the company’s stock valued at $54,462,000 after acquiring an additional 200,415 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Sinclair by 0.4% during the first quarter. Gabelli Funds LLC now owns 1,153,354 shares of the company’s stock valued at $18,373,000 after acquiring an additional 4,854 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Sinclair by 15.3% during the second quarter. Geode Capital Management LLC now owns 971,689 shares of the company’s stock valued at $13,431,000 after acquiring an additional 129,277 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock valued at $11,422,000 after acquiring an additional 282,400 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Sinclair by 1.5% during the first quarter. Bridgeway Capital Management LLC now owns 536,689 shares of the company’s stock valued at $8,549,000 after acquiring an additional 7,970 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Trading Up 2.3%

Shares of NASDAQ:SBGI opened at $14.26 on Monday. The business’s 50-day moving average is $14.27 and its 200 day moving average is $14.40. Sinclair has a 1 year low of $11.89 and a 1 year high of $18.45. The firm has a market capitalization of $993.17 million, a P/E ratio of 17.18 and a beta of 1.31. The company has a debt-to-equity ratio of 13.93, a current ratio of 1.89 and a quick ratio of 1.89.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.19). The firm had revenue of $784.00 million for the quarter, compared to analysts’ expectations of $798.16 million. Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.27 EPS. On average, research analysts predict that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.0%. Sinclair’s dividend payout ratio is presently 120.48%.

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.