Sinclair (NASDAQ:SBGI) Upgraded at StockNews.com

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a hold rating to a buy rating in a report released on Wednesday morning.

SBGI has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $30.00 target price on shares of Sinclair in a research note on Tuesday, January 28th. Guggenheim boosted their target price on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.70.

Sinclair Trading Up 4.7 %

SBGI stock opened at $14.52 on Wednesday. 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 twelve month low of $11.13 and a twelve month high of $18.45. The stock has a market capitalization of $964.43 million, a price-to-earnings ratio of -4.40 and a beta of 1.55. The firm’s fifty day simple moving average is $15.22 and its two-hundred day simple moving average is $15.58.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. As a group, analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.89%. The ex-dividend date is Monday, March 10th. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Institutional Trading of Sinclair

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Sinclair by 19.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after acquiring an additional 14,344 shares during the period. Point72 Asset Management L.P. lifted its stake in Sinclair by 52.9% in the fourth quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after acquiring an additional 73,006 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sinclair by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after acquiring an additional 760 shares during the period. Empyrean Capital Partners LP lifted its stake in Sinclair by 8.0% in the fourth 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 during the period. Finally, D. E. Shaw & Co. Inc. purchased a new stake in Sinclair in the fourth quarter worth about $395,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.