Sinclair, Inc. to Issue Quarterly Dividend of $0.25 (NASDAQ:SBGI)

Sinclair, Inc. (NASDAQ:SBGI) 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.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. The business had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The company’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) EPS. On average, analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

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.

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.