Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Target Price at $18.30

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 been given an average recommendation of "Hold" by the six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.30.

Several analysts have recently issued reports on the company. Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. JPMorgan Chase & Co. cut their target price on Sinclair from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company cut their target price on Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Wall Street Zen downgraded Sinclair from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Guggenheim cut their target price on Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th.

Sinclair Price Performance

Shares of SBGI traded down $0.24 during mid-day trading on Thursday, hitting $14.14. 634,898 shares of the stock were exchanged, compared to its average volume of 681,677. The company has a market cap of $984.85 million, a PE ratio of 17.04 and a beta of 1.28. Sinclair has a 52-week low of $11.89 and a 52-week high of $18.45. The firm has a 50-day moving average of $14.25 and a two-hundred day moving average of $14.47. The company has a debt-to-equity ratio of 13.93, a quick ratio of 1.89 and a current ratio of 1.89.

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

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. Sinclair's payout ratio is currently 120.48%.

Hedge Funds Weigh In On Sinclair

Several hedge funds have recently bought and sold shares of SBGI. JPMorgan Chase & Co. grew its position in Sinclair by 188.0% in the 4th quarter. JPMorgan Chase & Co. now owns 80,206 shares of the company's stock valued at $1,295,000 after acquiring an additional 52,355 shares during the last quarter. Wells Fargo & Company MN grew its position in Sinclair by 8.5% in the 4th quarter. Wells Fargo & Company MN now owns 33,548 shares of the company's stock valued at $541,000 after acquiring an additional 2,620 shares during the last quarter. Legal & General Group Plc grew its position in Sinclair by 11.5% in the 4th quarter. Legal & General Group Plc now owns 36,766 shares of the company's stock valued at $593,000 after acquiring an additional 3,800 shares during the last quarter. Barclays PLC grew its position in Sinclair by 6.9% in the 4th quarter. Barclays PLC now owns 57,974 shares of the company's stock valued at $935,000 after acquiring an additional 3,745 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Sinclair by 5.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 36,500 shares of the company's stock valued at $590,000 after acquiring an additional 2,035 shares during the last quarter. Institutional investors own 41.71% of the company's stock.

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.