Sinclair (NASDAQ:SBGI) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Sinclair's stock price recently surpassed its 200-day moving average of $14.36, reaching a high of $14.54, but is currently trading at $14.10.
• Analysts have mixed opinions on Sinclair, with two recommending a "Buy" rating, three a "Hold," and one a "Sell," resulting in an average price target of $18.75.
• Sinclair announced a quarterly dividend of $0.25 per share, with a yield of 7.1%, despite a payout ratio of 120.48%.

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.36 and traded as high as $14.54. Sinclair shares last traded at $14.10, with a volume of 559,469 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBGI. Weiss Ratings reiterated a "hold (c-)" rating on shares of Sinclair in a report on Saturday, September 27th. Wells Fargo & Company cut their price target on Sinclair from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Benchmark decreased their price objective on Sinclair from $29.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Zacks Research upgraded Sinclair to a "hold" rating in a report on Thursday, August 21st. Finally, Guggenheim cut their target price on Sinclair from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.75.

Sinclair Stock Performance

The company's 50-day simple moving average is $14.15 and its 200 day simple moving average is $14.36. The stock has a market cap of $982.07 million, a P/E ratio of 16.99 and a beta of 1.31. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 13.93.

Sinclair (NASDAQ:SBGI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.91) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.19). The business had revenue of $784.00 million for the quarter, compared to analysts' expectations of $798.16 million. Sinclair had a net margin of 1.44% and a return on equity of 12.51%. The business's revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 earnings per share. As a group, sell-side analysts expect that Sinclair, Inc. will post 4.24 EPS for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders 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 dividend yield of 7.1%. The ex-dividend date was Friday, August 29th. Sinclair's payout ratio is presently 120.48%.

Hedge Funds Weigh In On Sinclair

Several institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its position in 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 acquiring an additional 1,065 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Sinclair by 175.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company's stock worth $41,000 after purchasing an additional 1,882 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Sinclair in the 1st quarter worth approximately $58,000. Raymond James Financial Inc. purchased a new position in Sinclair in the second quarter valued at approximately $54,000. Finally, Ameritas Investment Partners Inc. grew its holdings in 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 during the period. 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.

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