Sinclair (NASDAQ:SBGI) Price Target Raised to $19.00

Sinclair (NASDAQ:SBGI) had its price objective increased by Guggenheim from $18.00 to $19.00 in a research note published on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on SBGI. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Benchmark raised their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $13.00 to $19.00 in a report on Thursday, November 7th. Finally, Rosenblatt Securities raised their price target 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 issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Sinclair has an average rating of “Hold” and a consensus price target of $20.10.

Sinclair Trading Up 4.1 %

Shares of SBGI stock opened at $17.17 on Tuesday. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.20. The stock’s fifty day moving average price is $16.06 and its two-hundred day moving average price is $14.37. The company has a debt-to-equity ratio of 11.73, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $1.14 billion, a PE ratio of -5.00, a P/E/G ratio of 0.15 and a beta of 1.53.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $0.89 by $0.54. The firm had revenue of $917.00 million during the quarter, compared to the consensus estimate of $923.02 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. Equities analysts predict that Sinclair will post 4.24 EPS for the current fiscal year.

Sinclair Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 5.82%. Sinclair’s dividend payout ratio is presently -30.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empyrean Capital Partners LP acquired a new position in shares of Sinclair during the second quarter worth approximately $2,873,000. Point72 Asset Management L.P. bought a new stake in Sinclair during the 3rd quarter worth approximately $2,110,000. Inspire Advisors LLC purchased a new position in Sinclair during the 2nd quarter worth $1,552,000. Alden Global Capital LLC lifted its position in shares of Sinclair by 10.5% during the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of Sinclair during the third quarter valued at about $1,605,000. Institutional investors own 41.71% of the company’s stock.

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.