Sinclair, Inc. (NASDAQ:SBGI) Receives $20.00 Consensus Price Target from Analysts

Shares of Sinclair, Inc. (NASDAQ:SBGI) have earned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.00.

A number of research analysts have recently issued reports on SBGI shares. Benchmark boosted their price objective on Sinclair from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Wall Street Zen raised Sinclair from a “sell” rating to a “hold” rating in a research note on Sunday, February 22nd. Wells Fargo & Company increased their price target on Sinclair from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings downgraded shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd.

Insider Activity

In other news, Director Howard E. Friedman sold 14,713 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $15.11, for a total transaction of $222,313.43. Following the completion of the sale, the director owned 77,685 shares in the company, valued at $1,173,820.35. The trade was a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Benson E. Legg sold 6,548 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $15.81, for a total value of $103,523.88. Following the transaction, the director directly owned 71,165 shares in the company, valued at $1,125,118.65. The trade was a 8.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 46.60% of the company’s stock.

Institutional Trading of Sinclair

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Sinclair by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,082 shares of the company’s stock valued at $304,000 after purchasing an additional 780 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Sinclair by 26.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,945 shares of the company’s stock worth $55,000 after purchasing an additional 820 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Sinclair by 5.4% in the fourth quarter. Royal Bank of Canada now owns 17,001 shares of the company’s stock valued at $261,000 after purchasing an additional 869 shares in the last quarter. Kendall Capital Management lifted its holdings in shares of Sinclair by 3.8% in the third quarter. Kendall Capital Management now owns 26,495 shares of the company’s stock valued at $400,000 after purchasing an additional 965 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Sinclair Trading Up 1.7%

SBGI opened at $14.09 on Monday. Sinclair has a twelve month low of $11.89 and a twelve month high of $17.88. The company has a fifty day moving average of $14.82 and a 200-day moving average of $14.75. The stock has a market cap of $981.79 million, a PE ratio of -8.39 and a beta of 0.94. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.78.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.07. The business had revenue of $836.00 million for the quarter, compared to analyst estimates of $840.25 million. Sinclair had a negative net margin of 3.53% and a negative return on equity of 64.27%. Sinclair’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.61 earnings per share. On average, sell-side analysts predict that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, March 10th. Sinclair’s dividend payout ratio is -59.52%.

About Sinclair

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.