JPMorgan Chase & Co. Issues Positive Forecast for Sinclair (NASDAQ:SBGI) Stock Price

Sinclair (NASDAQ:SBGI) had its target price raised by JPMorgan Chase & Co. from $14.00 to $16.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also weighed in on SBGI. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $19.00 in a report on Thursday, November 7th. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Benchmark increased their price objective on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Rosenblatt Securities increased their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Sinclair currently has an average rating of “Hold” and a consensus target price of $20.38.

Sinclair Trading Down 1.1 %

Shares of Sinclair stock opened at $16.19 on Tuesday. The company’s fifty day moving average price is $15.86 and its two-hundred day moving average price is $14.29. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.78. Sinclair has a 52-week low of $11.13 and a 52-week high of $18.20. The firm has a market capitalization of $1.07 billion, a PE ratio of -4.90, a price-to-earnings-growth ratio of 0.13 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. The business had revenue of $917.00 million for the quarter, compared to analyst estimates of $923.02 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, analysts expect that Sinclair will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date is Monday, December 2nd. Sinclair’s dividend payout ratio is currently -30.30%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Sinclair by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 826,949 shares of the company’s stock valued at $12,655,000 after acquiring an additional 15,263 shares during the period. Barclays PLC raised its position in shares of Sinclair by 378.1% in the 3rd quarter. Barclays PLC now owns 54,229 shares of the company’s stock valued at $831,000 after acquiring an additional 42,887 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Sinclair in the 3rd quarter valued at approximately $91,000. Point72 Asset Management L.P. acquired a new stake in shares of Sinclair in the 3rd quarter valued at approximately $2,110,000. Finally, Parallax Volatility Advisers L.P. raised its position in shares of Sinclair by 38.9% in the 3rd quarter. Parallax Volatility Advisers L.P. now owns 52,472 shares of the company’s stock valued at $803,000 after acquiring an additional 14,683 shares during the period. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.