Sinclair, Inc. (NASDAQ:SBGI – Get Free Report) announced a quarterly dividend on Friday, November 29th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, December 2nd.
Sinclair has increased its dividend by an average of 7.7% per year over the last three years. Sinclair has a dividend payout ratio of 588.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.
Sinclair Price Performance
NASDAQ:SBGI opened at $18.32 on Friday. 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 $18.45. The stock’s 50 day moving average price is $16.61 and its two-hundred day moving average price is $14.54. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -5.55, a P/E/G ratio of 0.16 and a beta of 1.53.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Rosenblatt Securities raised their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Benchmark boosted their price target on Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.10.
Read Our Latest Analysis on SBGI
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.
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