Sinclair, Inc. (NASDAQ:SBGI) Receives $19.10 Consensus Target Price from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have been given an average recommendation of "Hold" by the five brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $19.10.

SBGI has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Thursday, February 27th. StockNews.com lowered shares of Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Guggenheim reduced their price objective on shares of Sinclair from $19.00 to $17.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Finally, Benchmark reduced their price objective on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th.

Sinclair Trading Down 2.7%

Shares of SBGI stock traded down $0.42 during trading hours on Tuesday, hitting $14.94. The company had a trading volume of 389,556 shares, compared to its average volume of 353,154. The company's fifty day moving average is $14.99 and its 200 day moving average is $15.56. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.46. The stock has a market capitalization of $993.05 million, a PE ratio of -4.53 and a beta of 1.36.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.40). Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company had revenue of $776.00 million during the quarter, compared to analyst estimates of $774.79 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business's revenue was down 2.8% compared to the same quarter last year. Research analysts expect that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, May 30th. Sinclair's dividend payout ratio (DPR) is 49.75%.

Insiders Place Their Bets

In other news, Chairman David D. Smith bought 30,296 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $14.09 per share, with a total value of $426,870.64. Following the completion of the acquisition, the chairman now directly owns 728,986 shares in the company, valued at approximately $10,271,412.74. The trade was a 4.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have acquired 458,530 shares of company stock valued at $6,636,392. Insiders own 41.90% of the company's stock.

Hedge Funds Weigh In On Sinclair

Several hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL increased its stake in Sinclair by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,740,387 shares of the company's stock valued at $59,584,000 after purchasing an additional 36,105 shares in the last quarter. Vanguard Group Inc. increased its position in Sinclair by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company's stock worth $59,945,000 after buying an additional 64,683 shares in the last quarter. Gabelli Funds LLC increased its position in 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 buying an additional 4,854 shares in the last quarter. Empyrean Capital Partners LP increased 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 worth $18,472,000 after buying an additional 84,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Sinclair by 65.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock worth $11,422,000 after buying an additional 282,400 shares in the last quarter. 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.