Sinclair (NASDAQ:SBGI) Earns Hold (C-) Rating from Weiss Ratings

Key Points

• Sinclair's stock has been assigned a "hold (C-)" rating by Weiss Ratings, indicating no strong recommendation for buying or selling at this time.
• Multiple equities research analysts have adjusted their price targets for Sinclair, with Wells Fargo lowering it from $17 to $16, and Benchmark from $29 to $27, reflecting cautious sentiment toward the stock.
• In its latest quarterly earnings report, Sinclair reported an EPS of ($0.91), missing estimates, with a year-over-year revenue decline of 5.4%.

Sinclair (NASDAQ:SBGI - Get Free Report)'s stock had its "hold (c-)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of Sinclair from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Guggenheim cut their price target on shares of Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Benchmark cut their price target on shares of Sinclair from $29.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Finally, Zacks Research raised shares of Sinclair to a "hold" rating in a report on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $18.75.

Sinclair Stock Performance

Sinclair stock opened at $13.84 on Wednesday. The company has a market capitalization of $963.91 million, a PE ratio of 16.67 and a beta of 1.31. Sinclair has a twelve month low of $11.89 and a twelve month high of $18.45. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 13.93. The firm has a fifty day simple moving average of $14.14 and a two-hundred day simple moving average of $14.35.

Sinclair (NASDAQ:SBGI - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $798.16 million. Sinclair had a return on equity of 12.51% and a net margin of 1.44%.Sinclair's revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. Research analysts expect that Sinclair will post 4.24 EPS for the current year.

Institutional Investors Weigh In On Sinclair

Several hedge funds have recently bought and sold shares of SBGI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sinclair by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company's stock worth $304,000 after purchasing an additional 780 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Sinclair by 26.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company's stock valued at $55,000 after purchasing an additional 820 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Sinclair by 8.4% during the first quarter. Hsbc Holdings PLC now owns 11,446 shares of the company's stock valued at $182,000 after purchasing an additional 884 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Sinclair by 7.8% during the first quarter. Cetera Investment Advisers now owns 14,525 shares of the company's stock valued at $231,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company's stock valued at $25,000 after purchasing an additional 1,065 shares in the last quarter. Institutional investors own 41.71% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.