Sinclair (NASDAQ:SBGI) PT Raised to $16.50 at Rosenblatt Securities

Sinclair (NASDAQ:SBGI) had its target price increased by Rosenblatt Securities from $16.40 to $16.50 in a report published on Friday, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Sinclair Trading Down 2.0 %

NASDAQ SBGI opened at $14.38 on Friday. The company has a market cap of $951.64 million, a P/E ratio of -2.02, a P/E/G ratio of 0.12 and a beta of 1.54. Sinclair has a 12 month low of $9.39 and a 12 month high of $17.58. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78. The company has a 50-day moving average of $13.88 and a 200-day moving average of $13.22.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.40. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. Sinclair’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.09) earnings per share. As a group, equities analysts predict that Sinclair will post 4.57 earnings per share for the current year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Hedge Funds Weigh In On Sinclair

Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new stake in shares of Sinclair during the 4th quarter worth about $117,000. Charles Schwab Investment Management Inc. grew its stake in Sinclair by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock worth $8,450,000 after buying an additional 13,874 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Sinclair by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after acquiring an additional 78,793 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Sinclair by 29.6% in the 4th quarter. Principal Financial Group Inc. now owns 36,926 shares of the company’s stock valued at $481,000 after acquiring an additional 8,436 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Sinclair during the 4th quarter valued at $709,000. 41.71% of the stock is currently 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.