Sinclair (NASDAQ:SBGI) Stock Crosses Above 200 Day Moving Average - What's Next?

Sinclair, Inc. (NASDAQ:SBGI - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.73 and traded as high as $15.70. Sinclair shares last traded at $15.46, with a volume of 492,749 shares traded.

Analyst Ratings Changes

SBGI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price objective on Sinclair from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. Guggenheim reiterated a "buy" rating on shares of Sinclair in a report on Thursday, May 15th. Wall Street Zen lowered Sinclair from a "hold" rating to a "sell" rating in a report on Monday, May 12th. Finally, Benchmark dropped their price objective on Sinclair from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.50.

Sinclair Stock Performance

The stock's 50 day moving average is $14.22 and its two-hundred day moving average is $14.73. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 7.69 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 (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 company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a return on equity of 34.15% and a net margin of 3.72%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Analysts expect that Sinclair, Inc. will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.47%. The ex-dividend date was Friday, May 30th. Sinclair's payout ratio is presently 49.75%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in Sinclair during the 4th quarter valued at approximately $47,000. DekaBank Deutsche Girozentrale bought a new position in shares of Sinclair during the 1st quarter valued at approximately $58,000. NBC Securities Inc. increased its position in Sinclair by 105,075.0% during the first quarter. NBC Securities Inc. now owns 4,207 shares of the company's stock valued at $67,000 after acquiring an additional 4,203 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Sinclair by 71.5% in the first quarter. Harbor Capital Advisors Inc. now owns 4,937 shares of the company's stock valued at $79,000 after acquiring an additional 2,058 shares during the period. Finally, State of Wyoming purchased a new position in shares of Sinclair during the 1st quarter worth about $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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