Sinclair (NASDAQ:SBGI) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a research report report published on Saturday.

Other equities analysts have also recently issued research reports about the company. Benchmark lifted their price target on Sinclair from $29.00 to $30.00 and gave the stock a buy rating in a research note on Monday, September 23rd. Rosenblatt Securities lifted their price target on Sinclair from $16.40 to $16.50 and gave the stock a neutral rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Sinclair currently has an average rating of Hold and a consensus price target of $19.88.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $15.30 on Friday. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The firm’s 50-day simple moving average is $13.88 and its 200 day simple moving average is $13.28. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. The stock has a market cap of $1.01 billion, a P/E ratio of -2.15, a P/E/G ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. Sinclair’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.09) earnings per share. Equities analysts expect that Sinclair will post 4.57 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.25 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.54%. Sinclair’s dividend payout ratio is currently -14.04%.

Institutional Investors Weigh In On Sinclair

A number of institutional investors have recently bought and sold shares of SBGI. Empyrean Capital Partners LP acquired a new stake in Sinclair in the 2nd quarter worth approximately $2,873,000. Alden Global Capital LLC boosted its position in Sinclair by 10.5% during the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after purchasing an additional 116,074 shares during the period. Gabelli Funds LLC boosted its position in Sinclair by 1.7% during the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after purchasing an additional 20,700 shares during the period. Hsbc Holdings PLC boosted its position in Sinclair by 28.0% during the second quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock worth $177,000 after purchasing an additional 2,918 shares during the period. Finally, Williams Financial LLC bought a new stake in Sinclair during the second quarter worth approximately $217,000. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.