Sinclair (NASDAQ:SBGI) Stock Rating Upgraded by Wall Street Zen

Sinclair (NASDAQ:SBGI) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

SBGI has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Sinclair from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, August 21st. Zacks Research raised shares of Sinclair from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings lowered shares of Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sinclair presently has a consensus rating of “Hold” and an average price target of $19.40.

Sinclair Price Performance

Shares of NASDAQ SBGI opened at $13.68 on Friday. Sinclair has a 12 month low of $11.83 and a 12 month high of $17.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 12.05. The firm has a market capitalization of $989.34 million, a price-to-earnings ratio of 9.99 and a beta of 1.24. The business has a 50-day moving average of $13.15 and a 200-day moving average of $14.04.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 4th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.33. Sinclair had a net margin of 2.84% and a negative return on equity of 4.00%. The business had revenue of $893.00 million for the quarter, compared to the consensus estimate of $874.21 million. During the same period last year, the firm posted ($0.02) earnings per share. Sinclair’s quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Sinclair will post 1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sinclair

Institutional investors have recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Sinclair by 3.6% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 29,000 shares of the company’s stock valued at $375,000 after acquiring an additional 1,000 shares in the last quarter. Waverly Advisors LLC grew its holdings in shares of Sinclair by 9.7% during the 2nd quarter. Waverly Advisors LLC now owns 13,346 shares of the company’s stock worth $190,000 after acquiring an additional 1,181 shares during the period. Farther Finance Advisors LLC raised its position in shares of Sinclair by 2,823.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,280 shares of the company’s stock worth $29,000 after acquiring an additional 2,202 shares in the last quarter. Jacobi Capital Management LLC bought a new position in shares of Sinclair in the 3rd quarter worth approximately $37,000. Finally, Inceptionr LLC raised its position in shares of Sinclair by 46.3% in the 1st quarter. Inceptionr LLC now owns 17,025 shares of the company’s stock worth $220,000 after acquiring an additional 5,385 shares in the last quarter. Hedge funds and other institutional investors own 41.71% of the company’s stock.

Sinclair Company Profile

Sinclair, Inc is a diversified media company that owns and operates local television stations across the United States. Its broadcast portfolio includes ABC, CBS, FOX, NBC, and other network-affiliated stations, as well as independent stations. Sinclair’s local media operations produce news, weather, sports, and community-focused programming for viewers in markets throughout the country.

The company also develops and distributes national and regional content through cable networks, digital platforms, and streaming services.