Analysts Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $18.50

Shares of Sinclair, Inc. (NASDAQ:SBGI) have received an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $18.50.

SBGI has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on Sinclair from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, May 21st. Wall Street Zen downgraded Sinclair from a “hold” rating to a “sell” rating in a report on Monday, May 12th. Benchmark dropped their price objective on Sinclair from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Finally, Guggenheim restated a “buy” rating on shares of Sinclair in a report on Thursday, May 15th.

Sinclair Stock Performance

Shares of NASDAQ:SBGI opened at $14.79 on Wednesday. The company has a market cap of $1.03 billion, a P/E ratio of 7.36 and a beta of 1.30. The company has a debt-to-equity ratio of 11.32, a quick ratio of 2.08 and a current ratio of 2.08. Sinclair has a one year low of $12.07 and a one year high of $18.46. The business’s 50-day simple moving average is $14.20 and its 200 day simple moving average is $14.75.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.40). The company had revenue of $776.00 million for the quarter, compared to analysts’ expectations of $774.79 million. Sinclair had a net margin of 3.72% and a return on equity of 34.15%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 earnings per share. On average, sell-side analysts forecast that Sinclair will post 4.24 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, May 30th. This represents a $1.00 annualized dividend and a yield of 6.76%. Sinclair’s dividend payout ratio is presently 49.75%.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith bought 63,073 shares of the firm’s stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $12.91 per share, for a total transaction of $814,272.43. Following the transaction, the chairman owned 1,526,029 shares in the company, valued at $19,701,034.39. The trade was a 4.31% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 41.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Gamco Investors INC. ET AL grew its position in shares of Sinclair by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,740,387 shares of the company’s stock worth $59,584,000 after acquiring an additional 36,105 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Sinclair by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,036 shares of the company’s stock worth $59,945,000 after acquiring an additional 64,683 shares in the last quarter. Gabelli Funds LLC grew its position in shares of Sinclair by 0.4% in the 1st quarter. Gabelli Funds LLC now owns 1,153,354 shares of the company’s stock worth $18,373,000 after acquiring an additional 4,854 shares in the last quarter. Empyrean Capital Partners LP grew its position in shares of Sinclair by 8.0% in the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock worth $18,472,000 after acquiring an additional 84,493 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Sinclair by 65.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock worth $11,422,000 after acquiring an additional 282,400 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.