Sinclair (NASDAQ:SBGI) Hits New 52-Week High – What’s Next?

Sinclair, Inc. (NASDAQ:SBGI) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $17.98 and last traded at $17.79, with a volume of 121276 shares. The stock had previously closed at $17.58.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SBGI. Rosenblatt Securities raised their target price on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Benchmark raised their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.88.

Sinclair Stock Down 2.2 %

The business has a 50-day moving average of $14.57 and a 200-day moving average of $13.71. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -2.41, a P/E/G ratio of 0.14 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned ($1.09) EPS. On average, sell-side analysts expect that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend was Friday, August 30th. Sinclair’s dividend payout ratio (DPR) is -14.04%.

Hedge Funds Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently bought and sold shares of SBGI. Capital Management Corp VA boosted its holdings in Sinclair by 36.7% during the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock valued at $27,031,000 after acquiring an additional 538,740 shares during the period. Empyrean Capital Partners LP purchased a new position in Sinclair during the 2nd quarter valued at about $2,873,000. Inspire Advisors LLC purchased a new position in Sinclair during the 2nd quarter valued at about $1,552,000. Alden Global Capital LLC boosted its holdings in Sinclair by 10.5% during the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after acquiring an additional 116,074 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Sinclair in the 1st quarter valued at about $1,359,000. 41.71% of the stock is currently owned by hedge funds and other institutional investors.

Sinclair Company Profile

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.