Sinclair, Inc. (NASDAQ:SBGI) Receives $18.50 Consensus PT from Brokerages

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) has earned an average rating of "Hold" from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Sinclair from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Thursday, February 27th. Wall Street Zen cut shares of Sinclair from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Guggenheim restated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Benchmark cut their price target on shares of Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. lowered 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.

Insider Buying and Selling at Sinclair

In related news, Chairman David D. Smith acquired 61,591 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were bought at an average price of $15.79 per share, with a total value of $972,521.89. Following the transaction, the chairman now directly owns 962,951 shares of the company's stock, valued at $15,204,996.29. This trade represents a 6.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders purchased 322,693 shares of company stock valued at $4,734,249. Corporate insiders own 41.90% of the company's stock.

Institutional Inflows and Outflows

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

Sinclair Trading Up 1.3%

Shares of SBGI stock traded up $0.17 during trading hours on Friday, hitting $13.56. 742,526 shares of the company's stock traded hands, compared to its average volume of 358,278. The stock has a market cap of $943.40 million, a PE ratio of -4.11 and a beta of 1.32. The stock's 50 day simple moving average is $14.35 and its 200 day simple moving average is $15.26. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.46.

Sinclair (NASDAQ:SBGI - Get Free Report) last released 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). Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. During the same quarter last year, the firm posted $0.35 EPS. The company's quarterly revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date is Friday, May 30th. Sinclair's payout ratio is 49.75%.

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.