Sinclair, Inc. (NASDAQ:SBGI) Stock Has Average Price Target of $19.40 According to Analysts

Key Points

• Analyst sentiment is mixed: Six analysts give Sinclair an average “Hold” rating, with a one-year average price target of $19.40.
• Quarterly results beat expectations: Sinclair reported EPS of $0.60 versus estimates of $0.27, while revenue rose 15.5% year over year to $893 million.
• Dividend and insider activity: The company announced a quarterly dividend of $0.25 per share, equal to a 6.6% annualized yield; insiders sold 410,200 shares during the quarter.

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have received an average rating of "Hold" from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.40.

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Sinclair from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Weiss Ratings raised Sinclair from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday, November 9th. JPMorgan Chase & Co. increased their price objective on Sinclair from $14.00 to $15.00 and gave the stock an "underweight" rating in a research note on Friday, August 21st. Finally, Zacks Research upgraded Sinclair from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th.

Insider Activity

In related news, COO Robert Weisbord sold 10,000 shares of Sinclair stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $15.02, for a total transaction of $150,200.00. Following the sale, the chief operating officer directly owned 289,408 shares in the company, valued at approximately $4,346,908.16. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert E. Smith sold 250,000 shares of the business's stock in a transaction on Monday, November 9th. The stock was sold at an average price of $13.98, for a total value of $3,495,000.00. Following the completion of the transaction, the director directly owned 250,000 shares in the company, valued at approximately $3,495,000. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 410,200 shares of company stock valued at $5,693,900. Company insiders own 42.10% of the company's stock.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently added to or reduced their stakes in SBGI. Dimensional Fund Advisors LP boosted its stake in Sinclair by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,622,794 shares of the company's stock valued at $21,001,000 after acquiring an additional 113,788 shares during the last quarter. Capital Management Corp VA increased its stake in shares of Sinclair by 2.1% during the 3rd quarter. Capital Management Corp VA now owns 1,437,884 shares of the company's stock worth $18,247,000 after purchasing an additional 28,902 shares during the last quarter. Converium Capital Inc. increased its stake in shares of Sinclair by 15.8% during the 1st quarter. Converium Capital Inc. now owns 1,062,452 shares of the company's stock worth $13,748,000 after purchasing an additional 144,674 shares during the last quarter. Pinnacle Associates Ltd. raised its holdings in shares of Sinclair by 4.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 774,890 shares of the company's stock worth $9,833,000 after purchasing an additional 33,457 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in shares of Sinclair in the 3rd quarter worth approximately $2,256,000. Institutional investors own 41.71% of the company's stock.

Sinclair Stock Up 3.8%

Shares of SBGI traded up $0.56 during trading hours on Friday, reaching $15.14. The stock had a trading volume of 789,934 shares, compared to its average volume of 829,497. The firm has a 50-day simple moving average of $13.23 and a 200 day simple moving average of $14.03. Sinclair has a 12 month low of $11.83 and a 12 month high of $17.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 12.05. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.05 and a beta of 1.24.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.33. Sinclair had a net margin of 2.84% and a negative return on equity of 4.00%. The firm had revenue of $893.00 million for the quarter, compared to the consensus estimate of $874.21 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The business's revenue was up 15.5% on a year-over-year basis. Equities research analysts predict that Sinclair will post 1.35 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, December 1st. Sinclair's dividend payout ratio is presently 72.99%.

About Sinclair

Sinclair, Inc., formerly known as Sinclair Broadcast Group, is a U.S. media company focused on local television broadcasting. Its stations provide local news, sports and entertainment programming, often alongside content from major television networks. The company also operates national television brands, including Tennis Channel and the multicast networks Comet, Charge! and TBD. Its businesses include producing and distributing programming and selling advertising across its television and digital platforms.

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