Sinclair, Inc. (NASDAQ:SBGI) Receives Consensus Rating of "Hold" from Brokerages

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has earned a consensus rating of "Hold" from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.50.

SBGI has been the topic of several research reports. Guggenheim reiterated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Wall Street Zen lowered shares of Sinclair from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on shares of Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Finally, Benchmark lowered their price target on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th.

Sinclair Trading Down 0.5%

NASDAQ:SBGI opened at $14.91 on Friday. The company has a market capitalization of $1.04 billion, a P/E ratio of 7.42 and a beta of 1.30. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 11.32. Sinclair has a 12 month low of $12.06 and a 12 month high of $18.45. The firm has a fifty day simple moving average of $14.13 and a 200-day simple moving average of $14.61.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing analysts' consensus estimates of ($1.78) by ($0.40). The firm had revenue of $776.00 million for the quarter, compared to analyst estimates of $774.79 million. Sinclair had a return on equity of 34.15% and a net margin of 3.72%. The business's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. On average, equities research analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.71%. The ex-dividend date of this dividend was Friday, May 30th. Sinclair's dividend payout ratio is currently 49.75%.

Institutional Trading of Sinclair

Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in shares of Sinclair in the fourth quarter worth about $47,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Sinclair in the 1st quarter valued at about $58,000. NBC Securities Inc. increased its stake in shares of Sinclair by 105,075.0% in the 1st quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after purchasing an additional 4,203 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Sinclair by 71.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock worth $79,000 after purchasing an additional 2,058 shares during the period. Finally, State of Wyoming purchased a new position in Sinclair during the first quarter worth approximately $119,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.

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