Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Recommendation of “Hold” by Brokerages

Sinclair, Inc. (NASDAQ:SBGI) has been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of equities research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Wells Fargo & Company raised their price target on Sinclair from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a report on Sunday, February 22nd. Guggenheim upped their price objective on Sinclair from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Benchmark increased their price objective on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 26th.

Sinclair Stock Performance

Shares of Sinclair stock opened at $15.60 on Monday. The business has a 50-day simple moving average of $14.92 and a 200-day simple moving average of $14.75. The company has a debt-to-equity ratio of 11.78, a quick ratio of 2.42 and a current ratio of 2.42. Sinclair has a one year low of $11.89 and a one year high of $17.88. The company has a market cap of $1.09 billion, a PE ratio of -9.29 and a beta of 0.94.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, February 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.07. Sinclair had a negative net margin of 3.53% and a negative return on equity of 64.27%. The firm had revenue of $836.00 million for the quarter, compared to analysts’ expectations of $840.25 million. During the same quarter last year, the company earned $2.61 earnings per share. The firm’s revenue was down 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 10th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s dividend payout ratio is -59.52%.

Insider Buying and Selling at Sinclair

In other news, Director Howard E. Friedman sold 14,713 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $15.11, for a total transaction of $222,313.43. Following the completion of the sale, the director owned 77,685 shares in the company, valued at approximately $1,173,820.35. The trade was a 15.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David B. Gibber sold 29,376 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $16.67, for a total transaction of $489,697.92. Following the completion of the transaction, the executive vice president owned 165,272 shares of the company’s stock, valued at approximately $2,755,084.24. The trade was a 15.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 50,637 shares of company stock worth $815,535 over the last three months. Insiders own 46.60% of the company’s stock.

Institutional Investors Weigh In On Sinclair

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new position in Sinclair in the fourth quarter valued at $174,000. Madison Avenue Partners LP purchased a new position in shares of Sinclair during the fourth quarter worth about $13,918,000. Aristeia Capital L.L.C. increased its position in shares of Sinclair by 22.3% during the fourth quarter. Aristeia Capital L.L.C. now owns 32,864 shares of the company’s stock worth $503,000 after purchasing an additional 5,988 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Sinclair by 205.4% during the fourth quarter. AQR Capital Management LLC now owns 130,835 shares of the company’s stock worth $2,002,000 after purchasing an additional 87,988 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Sinclair in the 4th quarter valued at about $170,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.