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) announced a quarterly dividend on Saturday, August 9th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.25 per share on Monday, September 15th. This represents a c) annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, August 29th.

Sinclair has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 3.4%

Shares of SBGI traded down $0.42 during midday trading on Friday, hitting $11.93. 876,434 shares of the company's stock traded hands, compared to its average volume of 431,889. Sinclair has a 1 year low of $11.89 and a 1 year high of $18.45. The firm's fifty day moving average is $14.05 and its 200-day moving average is $14.52. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 11.32. The stock has a market capitalization of $829.97 million, a price-to-earnings ratio of 14.37 and a beta of 1.28.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.19). The business had revenue of $784.00 million for the quarter, compared to analysts' expectations of $798.16 million. Sinclair had a net margin of 1.44% and a return on equity of 11.61%. The business's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS. As a group, sell-side analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Hedge Funds Weigh In On Sinclair

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. purchased a new position in shares of Sinclair in the 4th quarter valued at about $47,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sinclair in the 1st quarter valued at about $58,000. NBC Securities Inc. increased its stake in shares of Sinclair by 105,075.0% in the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after purchasing an additional 4,203 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Sinclair by 71.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock valued at $79,000 after purchasing an additional 2,058 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Sinclair in the 1st quarter valued at about $119,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

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.