Sinclair, Inc. (NASDAQ:SBGI) Receives Average Recommendation of "Hold" from Brokerages

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has been given a consensus rating of "Hold" by the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.50.

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

Insider Buying and Selling

In other news, Chairman David D. Smith acquired 63,073 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were purchased at an average cost of $12.91 per share, for a total transaction of $814,272.43. Following the transaction, the chairman directly owned 1,526,029 shares of the company's stock, valued at approximately $19,701,034.39. This trade represents a 4.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 41.90% of the company's stock.

Institutional Investors Weigh In On Sinclair

A number of institutional investors have recently bought and sold shares of SBGI. Carronade Capital Management LP increased its stake in Sinclair by 418.1% in the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock worth $7,108,000 after buying an additional 355,419 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of 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 acquiring an additional 282,400 shares during the last quarter. Kennondale Capital Management LLC bought a new position in shares of Sinclair during the first quarter worth $1,718,000. Trexquant Investment LP bought a new position in shares of Sinclair during the fourth quarter worth $1,688,000. Finally, Algert Global LLC bought a new position in shares of Sinclair during the first quarter worth $1,608,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Sinclair Trading Up 1.7%

NASDAQ:SBGI traded up $0.24 during trading hours on Wednesday, reaching $14.79. The company's stock had a trading volume of 201,863 shares, compared to its average volume of 364,598. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 7.36 and a beta of 1.30. The firm has a 50-day simple moving average of $14.20 and a 200-day simple moving average of $14.75. Sinclair has a 1 year low of $12.07 and a 1 year high of $18.46. The company has a debt-to-equity ratio of 11.32, a quick ratio of 2.08 and a current ratio of 2.08.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The firm had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a return on equity of 34.15% and a net margin of 3.72%. Sinclair's revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Research analysts expect that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.76%. Sinclair's dividend payout ratio is currently 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.