Analysts Set Sinclair, Inc. (NASDAQ:SBGI) PT at $19.30

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $19.30.

A number of research firms have recently weighed in on SBGI. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Guggenheim decreased their target price on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, StockNews.com downgraded shares of Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th.

Sinclair Stock Down 0.3 %

Shares of SBGI opened at $15.63 on Monday. The firm has a market cap of $1.04 billion, a P/E ratio of -4.74 and a beta of 1.50. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. Sinclair has a 52 week low of $11.13 and a 52 week high of $18.46. The firm’s 50-day simple moving average is $14.92 and its 200 day simple moving average is $15.88.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, beating the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, analysts forecast that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a yield of 6.40%. Sinclair’s dividend payout ratio (DPR) is 21.46%.

Insiders Place Their Bets

In other Sinclair news, Chairman David D. Smith purchased 17,902 shares of the stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $16.45 per share, with a total value of $294,487.90. Following the acquisition, the chairman now owns 1,082,771 shares of the company’s stock, valued at approximately $17,811,582.95. This represents a 1.68 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired 262,541 shares of company stock worth $3,844,778 over the last three months. Insiders own 46.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in Sinclair by 26.9% in the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock valued at $47,000 after buying an additional 613 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Sinclair in the 4th quarter valued at $47,000. Point72 DIFC Ltd acquired a new stake in shares of Sinclair during the 3rd quarter valued at $91,000. New York State Common Retirement Fund grew its position in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Sinclair in the 4th quarter worth about $123,000. Institutional investors own 41.71% 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.