Sinclair, Inc. (NASDAQ:SBGI) Receives Average Recommendation of “Hold” from Analysts

Sinclair, Inc. (NASDAQ:SBGIGet Free Report) has been given an average recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.20.

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Sinclair from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. decreased their target price on shares of Sinclair from $15.00 to $14.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. Benchmark increased their price target on shares of Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Guggenheim cut their price target on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of Sinclair in a research report on Wednesday, April 15th.

Check Out Our Latest Stock Analysis on SBGI

Sinclair Stock Up 1.8%

Shares of NASDAQ SBGI opened at $13.86 on Friday. Sinclair has a 52-week low of $11.89 and a 52-week high of $17.88. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 15.40 and a beta of 1.09. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $14.90. The company has a debt-to-equity ratio of 11.10, a quick ratio of 2.42 and a current ratio of 2.42.

Sinclair (NASDAQ:SBGIGet Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.96. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $792.63 million. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.30) earnings per share. Sell-side analysts expect that Sinclair will post 1.68 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 26th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, May 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.2%. Sinclair’s dividend payout ratio is currently 111.11%.

Insiders Place Their Bets

In other Sinclair news, Director Daniel C. Keith sold 22,613 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the completion of the transaction, the director owned 25,027 shares of the company’s stock, valued at approximately $327,853.70. This trade represents a 47.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert Weisbord sold 10,000 shares of Sinclair stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $15.70, for a total value of $157,000.00. Following the completion of the sale, the chief operating officer owned 284,525 shares of the company’s stock, valued at $4,467,042.50. This trade represents a 3.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 55,672 shares of company stock worth $758,498 over the last ninety days. Insiders own 41.90% of the company’s stock.

Institutional Trading of Sinclair

Institutional investors and hedge funds have recently bought and sold shares of the company. Madison Avenue Partners LP bought a new stake in Sinclair in the fourth quarter valued at $13,918,000. Goldman Sachs Group Inc. grew its position in shares of Sinclair by 143.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 906,872 shares of the company’s stock worth $13,875,000 after acquiring an additional 534,573 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Sinclair by 23.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,946,274 shares of the company’s stock worth $29,778,000 after acquiring an additional 373,566 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Sinclair by 7.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 4,242,962 shares of the company’s stock worth $64,069,000 after acquiring an additional 302,160 shares during the period. Finally, Verition Fund Management LLC lifted its position in Sinclair by 890.3% in the 3rd quarter. Verition Fund Management LLC now owns 306,637 shares of the company’s stock valued at $4,630,000 after purchasing an additional 275,674 shares during the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Sinclair

(Get Free Report)

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.

Further Reading

Analyst Recommendations for Sinclair (NASDAQ:SBGI)

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