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

Key Points

• Sinclair, Inc. has received a consensus recommendation of "Hold" from six research firms, with price targets ranging from $16.00 to $27.00 following various adjustments by analysts.
• The company reported a loss of $0.91 EPS for the latest quarter, which was below analyst expectations, and its revenue decreased by 5.4% year-over-year.
• Sinclair recently declared a quarterly dividend of $0.25 per share, resulting in an annualized yield of 7.3%, despite a high payout ratio of 120.48%.

Shares of Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.75.

A number of equities research analysts have recently weighed in on SBGI shares. Guggenheim lowered 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. Wells Fargo & Company lowered 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. Weiss Ratings reiterated a "hold (c-)" rating on shares of Sinclair in a report on Wednesday. Zacks Research upgraded Sinclair to a "hold" rating in a report on Thursday, August 21st. Finally, Benchmark lowered 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. grew its stake in Sinclair by 995.5% during the 2nd quarter. Osaic Holdings Inc. now owns 27,048 shares of the company's stock worth $374,000 after buying an additional 24,579 shares during the last quarter. Squarepoint Ops LLC grew its stake in Sinclair by 109.4% during the 2nd quarter. Squarepoint Ops LLC now owns 131,784 shares of the company's stock worth $1,821,000 after buying an additional 68,857 shares during the last quarter. Carronade Capital Management LP grew its stake in shares of Sinclair by 2.3% in the second quarter. Carronade Capital Management LP now owns 467,513 shares of the company's stock worth $6,461,000 after purchasing an additional 10,711 shares in the last quarter. Geneos Wealth Management Inc. grew its stake 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 in the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Sinclair by 79.3% in the second quarter. Headlands Technologies LLC now owns 6,773 shares of the company's stock worth $94,000 after purchasing an additional 2,996 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

Sinclair Stock Performance

Shares of SBGI opened at $13.65 on Friday. The business's 50 day moving average is $14.12 and its two-hundred day moving average is $14.33. Sinclair has a 52-week low of $11.89 and a 52-week high of $18.45. The firm has a market cap of $950.72 million, a price-to-earnings ratio of 16.45 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 (NASDAQ:SBGI - Get Free Report) last announced its 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). Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The business had revenue of $784.00 million during the quarter, compared to analyst estimates of $798.16 million. During the same period in the previous year, the company earned $0.27 earnings per share. The business's revenue for the quarter was down 5.4% on a year-over-year basis. Analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date was Friday, August 29th. Sinclair's dividend payout ratio 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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