Sinclair (SBGI) Set to Announce Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI) will announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Sinclair has set its Q1 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.46 by $0.35. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The business had revenue of $826.00 million during the quarter, compared to analyst estimates of $838.75 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was down 14.0% compared to the same quarter last year. On average, analysts expect Sinclair to post $2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sinclair Price Performance

Shares of SBGI opened at $13.21 on Monday. The company has a market cap of $840.16 million, a P/E ratio of -2.73, a PEG ratio of 0.32 and a beta of 1.38. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 18.73. The firm’s 50 day moving average price is $12.80 and its 200 day moving average price is $13.42.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date was Friday, March 8th. Sinclair’s dividend payout ratio is currently -20.70%.

Insider Buying and Selling at Sinclair

In other news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total transaction of $408,567.88. Following the completion of the transaction, the director now directly owns 30,000 shares in the company, valued at $407,400. The disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SBGI has been the subject of a number of recent research reports. Rosenblatt Securities lifted their target price on Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a report on Thursday, January 18th. StockNews.com cut Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company upped their target price on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.14.

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.