Sinclair, Inc. (NASDAQ:SBGI) Plans Quarterly Dividend of $0.25

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Monday, December 2nd.

Sinclair has raised its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a payout ratio of 2,500.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Sinclair Stock Performance

Shares of NASDAQ SBGI traded down $0.26 during trading on Friday, hitting $16.67. 10,511 shares of the company were exchanged, compared to its average volume of 411,596. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78. Sinclair has a 1 year low of $11.13 and a 1 year high of $18.20. The firm’s fifty day moving average price is $15.56 and its 200 day moving average price is $14.14.

Sinclair (NASDAQ:SBGI) last issued its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The company had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $836.65 million. Sinclair had a negative net margin of 6.14% and a positive return on equity of 69.78%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted ($1.09) earnings per share. As a group, analysts anticipate that Sinclair will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

SBGI has been the topic of several research reports. Rosenblatt Securities upped their target price on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Benchmark increased 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. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $19.00 in a research report on Thursday.

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.