Sinclair, Inc. (NASDAQ:SBGI) Receives Average Recommendation of “Hold” from Analysts

Sinclair, Inc. (NASDAQ:SBGI) has earned an average rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $20.25.

SBGI has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 26th. Benchmark raised their price objective on shares of Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Wednesday. Wall Street Zen raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Sunday, February 22nd. Finally, Weiss Ratings cut Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd.

Insider Transactions at Sinclair

In other Sinclair news, Director Daniel C. Keith sold 22,613 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $13.10, for a total value of $296,230.30. Following the transaction, the director owned 25,027 shares of the company’s stock, valued at $327,853.70. This represents a 47.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard E. Friedman sold 14,713 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 77,685 shares in the company, valued at $1,173,820.35. The trade was a 15.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 70,385 shares of company stock worth $980,811. 41.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sinclair

A number of institutional investors and hedge funds have recently made changes to their positions in SBGI. Geneos Wealth Management Inc. boosted its position in shares of Sinclair by 142.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after purchasing an additional 1,065 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Sinclair in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC raised its position in Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after purchasing an additional 1,882 shares during the period. Aquatic Capital Management LLC acquired a new position in Sinclair during the third quarter worth $48,000. Finally, Raymond James Financial Inc. acquired a new position in Sinclair during the second quarter worth $54,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Price Performance

SBGI stock opened at $13.01 on Friday. Sinclair has a 1 year low of $11.89 and a 1 year high of $17.88. The company has a debt-to-equity ratio of 11.78, a current ratio of 2.42 and a quick ratio of 2.42. The firm has a market capitalization of $931.78 million, a PE ratio of -7.74 and a beta of 1.03. The business has a 50 day simple moving average of $14.31 and a 200-day simple moving average of $14.67.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The firm had revenue of $836.00 million for the quarter, compared to the consensus estimate of $840.25 million. Sinclair had a negative return on equity of 64.27% and a negative net margin of 3.53%.The firm’s revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.61 earnings per share. Equities research analysts anticipate that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend was Tuesday, March 10th. Sinclair’s dividend payout ratio is -59.52%.

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.