Sinclair, Inc. (NASDAQ:SBGI) Receives $18.50 Consensus Target Price from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have received an average recommendation of "Hold" from the five research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.50.

SBGI has been the subject of a number of research analyst reports. Guggenheim reissued a "buy" rating on shares of Sinclair in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Finally, Benchmark cut their target price on Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th.

Insider Buying and Selling

In other Sinclair news, Chairman David D. Smith bought 63,073 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $12.91 per share, for a total transaction of $814,272.43. Following the transaction, the chairman owned 1,526,029 shares of the company's stock, valued at approximately $19,701,034.39. The trade was a 4.31% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 195,989 shares of company stock valued at $2,791,614 in the last three months. 46.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sinclair

Several large investors have recently made changes to their positions in SBGI. Federated Hermes Inc. acquired a new stake in Sinclair in the 4th quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale bought a new position in Sinclair in the first quarter valued at $58,000. NBC Securities Inc. grew its position in Sinclair by 105,075.0% in the first 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 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 buying an additional 2,058 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its position in Sinclair by 29.4% during the 4th quarter. New York State Common Retirement Fund now owns 7,480 shares of the company's stock worth $121,000 after buying an additional 1,700 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

Sinclair Price Performance

Shares of NASDAQ SBGI traded up $0.50 during mid-day trading on Wednesday, reaching $14.55. The company had a trading volume of 507,834 shares, compared to its average volume of 364,331. The company has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $14.79. The stock has a market cap of $1.01 billion, a PE ratio of 7.24 and a beta of 1.30. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 11.32. Sinclair has a 1-year low of $12.07 and a 1-year high of $18.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). Sinclair had a net margin of 3.72% and a return on equity of 34.15%. The firm had revenue of $776.00 million for the quarter, compared to analysts' expectations of $774.79 million. During the same period in the prior year, the company posted $0.35 earnings per share. Sinclair's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.87%. The ex-dividend date of this dividend was Friday, May 30th. Sinclair's dividend payout ratio is 49.75%.

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.