Sinclair, Inc. (NASDAQ:SBGI) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Sinclair, Inc. has received a consensus rating of "Hold" from five analysts, with one sell rating, two hold ratings, and two buy ratings, while the average 12-month target price is $18.30.
• The company's recent earnings report showed a loss of ($0.91) EPS, missing estimates, with quarterly revenue of $784 million, down 5.4% from the previous year.
• Sinclair is set to pay a quarterly dividend of $0.25 per share on September 15th, representing a 7.3% yield, although its dividend payout ratio is currently at a high 120.48%.

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has earned a consensus rating of "Hold" from the six research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $18.30.

A number of research analysts have recently weighed in on SBGI shares. Benchmark dropped their price target on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Guggenheim dropped their price target on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. JPMorgan Chase & Co. decreased their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company cut their target price on shares of Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Finally, Zacks Research raised shares of Sinclair to a "hold" rating in a research note on Thursday.

Sinclair Price Performance

Shares of SBGI stock traded up $0.43 during mid-day trading on Thursday, reaching $14.36. The stock had a trading volume of 389,162 shares, compared to its average volume of 676,329. Sinclair has a 12-month low of $11.89 and a 12-month high of $18.45. The company has a market cap of $1.00 billion, a P/E ratio of 17.30 and a beta of 1.28. The business has a 50-day simple moving average of $14.21 and a 200 day simple moving average of $14.47. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 13.93.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.19). Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The firm had revenue of $784.00 million during the quarter, compared to analysts' expectations of $798.16 million. During the same quarter in the prior year, the business earned $0.27 EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 29th. This represents a $1.00 dividend on an annualized basis and a yield of 7.0%. Sinclair's dividend payout ratio (DPR) is 120.48%.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently added to or reduced their stakes in the business. Carronade Capital Management LP grew its holdings in Sinclair by 418.1% in the 4th quarter. Carronade Capital Management LP now owns 440,419 shares of the company's stock valued at $7,108,000 after buying an additional 355,419 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Sinclair by 65.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company's stock valued at $11,422,000 after buying an additional 282,400 shares during the period. Gamco Investors INC. ET AL grew its holdings in Sinclair by 5.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 3,940,802 shares of the company's stock valued at $54,462,000 after buying an additional 200,415 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Sinclair in the 2nd quarter valued at about $2,292,000. Finally, Geode Capital Management LLC grew its holdings in Sinclair by 15.3% in the 2nd quarter. Geode Capital Management LLC now owns 971,689 shares of the company's stock valued at $13,431,000 after buying an additional 129,277 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

Sinclair Company Profile

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.