Sinclair, Inc. (NASDAQ:SBGI – Get Free Report) has earned a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.40.
A number of equities analysts have issued reports on the company. Wall Street Zen lowered Sinclair from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a research note on Friday, August 21st. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings upgraded shares of Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 25th.
Get Our Latest Stock Analysis on Sinclair
Sinclair Stock Down 1.0%
Sinclair (NASDAQ:SBGI – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.82). Sinclair had a negative return on equity of 16.09% and a net margin of 1.60%.The business had revenue of $840.00 million during the quarter, compared to analyst estimates of $838.99 million. During the same quarter last year, the firm posted ($0.91) EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that Sinclair will post 1.01 EPS for the current fiscal year.
Sinclair Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Monday, August 31st. Sinclair’s dividend payout ratio is 133.33%.
Insider Transactions at Sinclair
In related news, EVP David B. Gibber sold 29,246 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $13.74, for a total value of $401,840.04. Following the completion of the sale, the executive vice president directly owned 184,244 shares of the company’s stock, valued at $2,531,512.56. The trade was a 13.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel C. Keith sold 17,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $15.02, for a total value of $255,340.00. Following the completion of the sale, the director directly owned 25,122 shares of the company’s stock, valued at approximately $377,332.44. This represents a 40.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 46,446 shares of company stock worth $659,880. Company insiders own 42.10% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Sinclair in the 4th quarter valued at approximately $32,000. Public Employees Retirement System of Ohio bought a new position in Sinclair during the second quarter worth $100,000. Waverly Advisors LLC acquired a new position in Sinclair in the first quarter worth $157,000. Empowered Funds LLC acquired a new position in Sinclair in the first quarter worth $191,000. Finally, Inceptionr LLC increased its stake in Sinclair by 46.3% during the first quarter. Inceptionr LLC now owns 17,025 shares of the company’s stock valued at $220,000 after purchasing an additional 5,385 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.
Sinclair Company Profile
Sinclair, Inc (NASDAQ: SBGI) is a diversified media company focused primarily on local television broadcasting in the United States. Through its television stations, the company provides local news, weather, sports, entertainment and syndicated programming to audiences in markets across the country.
Sinclair also develops and distributes content through national and regional networks, digital platforms and streaming services. Its portfolio has included sports-focused programming, news and information services, and digital products designed to extend the reach of its broadcast content across connected televisions, websites and mobile devices.
The company was founded in 1986 by David D.
See Also
- Five stocks we like better than Sinclair
- Hims & Hers Slides Nearly 7% as Legal Pressure Adds to Its Growing List of Risks
- Paychex Plunges, Providing the Entry Investors Have Been Waiting For
- The Case for Buying High-Yield General Mills Just Strengthened
- SanDisk’s $1,800 Breakout Turns Memory Hardware Into a Profit Story
Receive News & Ratings for Sinclair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sinclair and related companies with MarketBeat.com's FREE daily email newsletter.
