Sinclair (NASDAQ:SBGI) Upgraded at StockNews.com

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other research firms have also commented on SBGI. Rosenblatt Securities raised their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a research report on Friday, September 20th. Benchmark lifted their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a buy rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Sinclair has a consensus rating of Hold and a consensus price target of $19.88.

Sinclair Trading Up 0.3 %

Shares of SBGI stock opened at $15.30 on Friday. Sinclair has a 12-month low of $9.39 and a 12-month high of $17.58. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm’s 50 day moving average is $13.88 and its 200 day moving average is $13.28. The stock has a market capitalization of $1.01 billion, a P/E ratio of -2.15, a P/E/G ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.40. The business had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.09) EPS. Research analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.54%. Sinclair’s dividend payout ratio is presently -14.04%.

Institutional Trading of Sinclair

Several institutional investors have recently modified their holdings of SBGI. nVerses Capital LLC acquired a new position in Sinclair in the 2nd quarter valued at $28,000. Fidelis Capital Partners LLC acquired a new stake in Sinclair in the first quarter valued at approximately $49,000. EntryPoint Capital LLC grew its position in Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after acquiring an additional 1,085 shares in the last quarter. Headlands Technologies LLC grew its position in shares of Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after buying an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in shares of Sinclair during the first quarter worth approximately $76,000. Hedge funds and other 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.