Sinclair (NASDAQ:SBGI) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a research report released on Saturday.

A number of other analysts have also recently commented on the stock. Benchmark lifted their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a buy rating in a research note on Monday, September 23rd. Rosenblatt Securities lifted their price objective on Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sinclair has an average rating of Hold and an average target price of $19.88.

Sinclair Price Performance

SBGI stock opened at $15.20 on Friday. Sinclair has a 52 week low of $9.39 and a 52 week high of $17.58. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. The company has a fifty day simple moving average of $13.89 and a two-hundred day simple moving average of $13.29. The firm has a market capitalization of $1.01 billion, a P/E ratio of -2.13, a price-to-earnings-growth ratio of 0.13 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. During the same quarter last year, the firm posted ($1.09) EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts anticipate that Sinclair will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 annualized dividend and a yield of 6.58%. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Institutional Investors Weigh In On Sinclair

Large investors have recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in Sinclair during the 2nd quarter worth approximately $28,000. Fidelis Capital Partners LLC purchased a new stake in Sinclair during the 1st quarter worth approximately $49,000. EntryPoint Capital LLC increased its stake in Sinclair by 37.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares in the last quarter. Headlands Technologies LLC increased its stake in Sinclair by 1,039.0% during the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after buying an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Sinclair during the 1st quarter worth approximately $76,000. 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.