Guggenheim Issues Positive Forecast for Sinclair (NASDAQ:SBGI) Stock Price

Sinclair (NASDAQ:SBGI) had its price target lifted by Guggenheim from $18.00 to $19.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Rosenblatt Securities upped their target price on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Benchmark upped their price target on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Finally, StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $20.10.

Sinclair Trading Up 2.7 %

Shares of Sinclair stock opened at $16.36 on Tuesday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -4.96, a price-to-earnings-growth ratio of 0.14 and a beta of 1.53. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.20. The company’s 50-day simple moving average is $15.92 and its 200-day simple moving average is $14.34. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.54. The company had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) EPS. As a group, equities research analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 6.11%. Sinclair’s dividend payout ratio (DPR) is -30.30%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC grew its position in Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after acquiring an additional 1,085 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in Sinclair by 2.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after buying an additional 85,070 shares during the period. Gabelli Funds LLC lifted its holdings in Sinclair by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 1,188,000 shares of the company’s stock worth $16,002,000 after buying an additional 11,200 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Sinclair by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after buying an additional 39,624 shares during the last quarter. Finally, Caxton Associates LP acquired a new stake in shares of Sinclair during the first quarter valued at about $213,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.