Sinclair (NASDAQ:SBGI) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sinclair from “hold” to “buy.” Across analysts, however, ratings remain split, with MarketBeat reporting an overall consensus “hold” and a $19.40 average price target.
• Sinclair reported quarterly EPS of $0.60, beating the $0.27 consensus estimate, while revenue of $893 million topped forecasts and rose 15.5% year over year.
• Shares opened at $13.68, within a 52-week range of $11.83 to $17.88; the company also carries a high debt-to-equity ratio of 13.28.

Sinclair (NASDAQ:SBGI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other brokerages have also issued reports on SBGI. Zacks Research raised Sinclair from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 8th. Weiss Ratings cut Sinclair from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on Sinclair from $14.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.40.

Sinclair Price Performance

Shares of SBGI stock opened at $13.68 on Friday. Sinclair has a one year low of $11.83 and a one year high of $17.88. The company's fifty day moving average price is $13.15 and its 200-day moving average price is $14.04. The company has a debt-to-equity ratio of 13.28, a quick ratio of 1.94 and a current ratio of 1.94.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.33. Sinclair had a negative return on equity of 16.09% and a net margin of 1.60%. The company had revenue of $893.00 million for the quarter, compared to analyst estimates of $874.21 million. During the same quarter last year, the company posted ($0.02) earnings per share. The business's quarterly revenue was up 15.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Sinclair will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other Sinclair news, EVP David Gibber sold 29,246 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $13.74, for a total transaction of $401,840.04. Following the completion of the sale, the executive vice president owned 184,244 shares of the company's stock, valued at approximately $2,531,512.56. This represents a 13.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 42.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Sinclair by 3.6% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 29,000 shares of the company's stock worth $375,000 after acquiring an additional 1,000 shares during the last quarter. Waverly Advisors LLC grew its position in Sinclair by 9.7% during the second quarter. Waverly Advisors LLC now owns 13,346 shares of the company's stock valued at $190,000 after buying an additional 1,181 shares during the period. Farther Finance Advisors LLC raised its stake in Sinclair by 2,823.1% in the third quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company's stock worth $29,000 after buying an additional 2,202 shares in the last quarter. Jacobi Capital Management LLC purchased a new position in Sinclair during the third quarter worth approximately $37,000. Finally, Inceptionr LLC raised its stake in Sinclair by 46.3% during the 1st quarter. Inceptionr LLC now owns 17,025 shares of the company's stock valued at $220,000 after acquiring an additional 5,385 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

Sinclair Company Profile

Sinclair, Inc is a diversified media company that owns and operates local television stations across the United States. Its broadcast portfolio includes ABC, CBS, FOX, NBC, and other network-affiliated stations, as well as independent stations. Sinclair's local media operations produce news, weather, sports, and community-focused programming for viewers in markets throughout the country.

The company also develops and distributes national and regional content through cable networks, digital platforms, and streaming services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.