Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Sinclair, Inc. has a consensus brokerage rating of "Hold" from six analysts, with an average 12-month price target of $19.20.
• Recent analyst moves were mixed: JPMorgan and Wells Fargo cut price targets and maintained cautious ratings, while Guggenheim and Wall Street Zen were more positive; Weiss Ratings downgraded the stock to sell.
• Sinclair reported better-than-expected Q1 earnings of $0.28 per share on revenue of $807 million, and it also paid a quarterly dividend of $0.25 per share, implying a 7.3% annualized yield.

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has been given an average rating of "Hold" by the six research firms that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $19.20.

Several brokerages have recently weighed in on SBGI. JPMorgan Chase & Co. lowered their target price on Sinclair from $15.00 to $14.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. Guggenheim lowered their target price on Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. Wall Street Zen upgraded Sinclair from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Wells Fargo & Company lowered their target price on Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings cut Sinclair from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday.

Insider Buying and Selling

In related news, Director Daniel C. Keith sold 22,613 shares of the company's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total value of $296,230.30. Following the transaction, the director directly owned 25,027 shares in the company, valued at approximately $327,853.70. This represents a 47.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 42,000 shares of company stock valued at $550,200 in the last 90 days. Corporate insiders own 42.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBGI. AQR Capital Management LLC lifted its holdings in Sinclair by 5.7% in the first quarter. AQR Capital Management LLC now owns 41,993 shares of the company's stock valued at $656,000 after acquiring an additional 2,258 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Sinclair by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company's stock valued at $304,000 after acquiring an additional 780 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Sinclair by 134.7% in the first quarter. Acadian Asset Management LLC now owns 11,525 shares of the company's stock valued at $182,000 after acquiring an additional 6,615 shares during the last quarter. Cetera Investment Advisers lifted its holdings in Sinclair by 17.7% in the second quarter. Cetera Investment Advisers now owns 17,097 shares of the company's stock valued at $236,000 after acquiring an additional 2,572 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Sinclair by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 31,075 shares of the company's stock valued at $429,000 after acquiring an additional 1,511 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Trading Up 2.5%

Shares of Sinclair stock opened at $13.76 on Wednesday. The stock has a market cap of $993.06 million, a P/E ratio of 15.29 and a beta of 1.05. The stock's 50 day simple moving average is $14.53 and its 200-day simple moving average is $14.68. Sinclair has a 1-year low of $11.89 and a 1-year high of $17.88. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.96. The business had revenue of $807.00 million for the quarter, compared to analysts' expectations of $792.63 million. Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.30) EPS. Analysts predict that Sinclair will post 1.68 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th were issued a $0.25 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a yield of 7.3%. Sinclair's dividend payout ratio is currently 111.11%.

Sinclair Company Profile

Sinclair Broadcast Group, Inc NASDAQ: SBGI is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.

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