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

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

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

Institutional Trading of Sinclair

A number of hedge funds have recently added to or reduced their stakes in SBGI. Charles Schwab Investment Management Inc. lifted its position in Sinclair by 65.0% during the 1st 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 period. Gamco Investors INC. ET AL lifted its position in Sinclair by 5.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 3,940,802 shares of the company's stock worth $54,462,000 after acquiring an additional 200,415 shares during the period. Balyasny Asset Management L.P. acquired a new stake in Sinclair during the 2nd quarter worth approximately $2,292,000. Geode Capital Management LLC lifted its position in Sinclair by 15.3% during the 2nd quarter. Geode Capital Management LLC now owns 971,689 shares of the company's stock worth $13,431,000 after acquiring an additional 129,277 shares during the period. Finally, Kennondale Capital Management LLC acquired a new stake in Sinclair during the 1st quarter worth approximately $1,718,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Trading Up 0.1%

NASDAQ:SBGI opened at $13.95 on Monday. The stock's 50 day moving average price is $14.32 and its 200 day moving average price is $14.41. The company has a market capitalization of $971.58 million, a PE 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 52-week low of $11.89 and a 52-week high of $18.45.

Sinclair (NASDAQ:SBGI - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.27 EPS. On average, research analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Friday, August 29th. Sinclair's dividend payout ratio (DPR) is presently 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.

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