Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $20.10

Sinclair, Inc. (NASDAQ:SBGI) has received an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $19.70.

Several research firms have issued reports on SBGI. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut their price objective on Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, February 27th. Guggenheim increased their price target on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Sinclair from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $30.00 target price on shares of Sinclair in a report on Tuesday, January 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SBGI. Segall Bryant & Hamill LLC bought a new stake in shares of Sinclair during the 3rd quarter worth approximately $1,605,000. Verition Fund Management LLC acquired a new stake in shares of Sinclair in the 3rd quarter valued at $822,000. Barclays PLC increased its stake in shares of Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after purchasing an additional 42,887 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Sinclair by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock worth $12,655,000 after buying an additional 15,263 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Sinclair in the third quarter valued at about $2,110,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

Sinclair Stock Down 4.2 %

Shares of SBGI stock opened at $13.91 on Thursday. The firm’s fifty day moving average price is $15.18 and its two-hundred day moving average price is $15.63. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. Sinclair has a 1 year low of $11.13 and a 1 year high of $18.45. The firm has a market capitalization of $923.92 million, a P/E ratio of -4.22 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.62. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. On average, equities analysts predict that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.19%. Sinclair’s payout ratio is 21.46%.

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.