Sinclair, Inc. (NASDAQ:SBGI) Declares $0.25 Quarterly Dividend

Key Points

• Sinclair, Inc. declared a quarterly dividend of $0.25, with a dividend yield of 7.1%, payable on September 15th to stockholders of record as of August 29th.
• The company reported a loss of ($0.91) earnings per share for the latest quarter, missing analysts' estimates and reflecting a 5.4% decline in quarterly revenue compared to the prior year.
• Institutional investors have been actively trading Sinclair's stock, with significant stakes held by firms like Gamco Investors and Vanguard Group, indicating continued interest in the company despite its financial challenges.

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) declared a quarterly dividend on Wednesday, August 6th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.25 per share on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 7.1%.

Sinclair has a dividend payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Trading Down 0.4%

NASDAQ SBGI traded down $0.06 during trading on Wednesday, hitting $14.12. 398,862 shares of the company's stock traded hands, compared to its average volume of 368,891. The stock has a fifty day moving average of $14.14 and a two-hundred day moving average of $14.56. The company has a debt-to-equity ratio of 11.32, a current ratio of 2.08 and a quick ratio of 2.08. Sinclair has a 12-month low of $12.20 and a 12-month high of $18.45. The firm has a market cap of $982.40 million, a P/E ratio of 7.03 and a beta of 1.28.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.36). Sinclair had a return on equity of 34.15% and a net margin of 3.72%. Sinclair's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts expect that Sinclair will post 4.24 EPS for the current year.

Institutional Investors Weigh In On Sinclair

Institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its holdings in Sinclair by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 3,740,387 shares of the company's stock valued at $59,584,000 after acquiring an additional 36,105 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock valued at $59,945,000 after acquiring an additional 64,683 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Sinclair by 0.4% during the first quarter. Gabelli Funds LLC now owns 1,153,354 shares of the company's stock worth $18,373,000 after purchasing an additional 4,854 shares during the period. Empyrean Capital Partners LP raised its position in Sinclair by 8.0% during the fourth quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company's stock valued at $18,472,000 after acquiring an additional 84,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sinclair by 65.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after acquiring an additional 282,400 shares during the period. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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