Sinclair, Inc. (NASDAQ:SBGI) Receives $18.30 Average PT from Analysts

Key Points

• Sinclair, Inc. has received a consensus recommendation of "Hold" from six ratings firms, with one sell, three hold, and two buy ratings.
• The company recently missed earnings forecasts, reporting a loss of ($0.91) EPS and revenue of $784 million compared to the expected $798 million.
• Sinclair announced a quarterly dividend of $0.25 per share, yielding 7.2%, with a payout ratio currently at 120.48%.

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has received an average recommendation of "Hold" from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.30.

Several brokerages have issued reports on SBGI. Zacks Research raised Sinclair to a "hold" rating in a report on Thursday, August 21st. Benchmark cut their price target on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company cut their price target on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Finally, Guggenheim cut their price target on Sinclair from $20.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 14th.

Institutional Investors Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sinclair by 4.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company's stock worth $295,000 after buying an additional 760 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Sinclair by 26.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company's stock worth $55,000 after purchasing an additional 820 shares during the period. Hsbc Holdings PLC increased its position in shares of Sinclair by 8.4% in the first quarter. Hsbc Holdings PLC now owns 11,446 shares of the company's stock worth $182,000 after purchasing an additional 884 shares during the period. Cetera Investment Advisers increased its position in shares of Sinclair by 7.8% in the first quarter. Cetera Investment Advisers now owns 14,525 shares of the company's stock worth $231,000 after purchasing an additional 1,050 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Sinclair by 142.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company's stock worth $25,000 after purchasing an additional 1,065 shares during the period. Institutional investors and hedge funds own 41.71% of the company's stock.

Sinclair Stock Down 2.9%

Shares of NASDAQ SBGI traded down $0.42 during trading hours on Monday, hitting $13.96. The company had a trading volume of 156,206 shares, compared to its average volume of 422,559. The stock has a market capitalization of $971.97 million, a P/E ratio of 16.81 and a beta of 1.31. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93. Sinclair has a 1-year low of $11.89 and a 1-year high of $18.45. The firm's 50 day moving average is $14.25 and its 200-day moving average is $14.40.

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

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.00 annualized dividend and a yield of 7.2%. Sinclair's dividend payout ratio (DPR) is currently 120.48%.

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.