Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $20.10

Sinclair, Inc. (NASDAQ:SBGI) has been given an average recommendation of “Hold” by the five research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.70.

Several research firms recently weighed in on SBGI. Benchmark reiterated a “buy” rating and set a $30.00 target price on shares of Sinclair in a research report on Tuesday, January 28th. StockNews.com downgraded Sinclair from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Finally, Guggenheim lifted their target price on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th.

Insider Transactions at Sinclair

In other news, Chairman David D. Smith bought 38,410 shares of Sinclair stock in a transaction dated Monday, March 3rd. The shares were purchased at an average cost of $14.01 per share, with a total value of $538,124.10. Following the completion of the acquisition, the chairman now owns 645,564 shares of the company’s stock, valued at $9,044,351.64. This trade represents a 6.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 46.60% of the company’s stock.

Institutional Investors Weigh In On Sinclair

Several large investors have recently made changes to their positions in SBGI. Harbor Capital Advisors Inc. bought a new stake in Sinclair during the third quarter worth approximately $39,000. GAMMA Investing LLC increased its stake in Sinclair by 26.9% during the fourth quarter. GAMMA Investing LLC now owns 2,896 shares of the company’s stock worth $47,000 after acquiring an additional 613 shares during the last quarter. Federated Hermes Inc. bought a new stake in Sinclair during the fourth quarter worth approximately $47,000. Point72 DIFC Ltd bought a new stake in Sinclair during the third quarter worth approximately $91,000. Finally, New York State Common Retirement Fund increased its stake in Sinclair by 29.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,480 shares of the company’s stock worth $121,000 after acquiring an additional 1,700 shares during the last quarter. 41.71% of the stock is owned by institutional investors.

Sinclair Stock Performance

Shares of SBGI opened at $14.33 on Thursday. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. Sinclair has a one year low of $11.13 and a one year high of $18.45. The firm has a market capitalization of $951.81 million, a P/E ratio of -4.34 and a beta of 1.55. The business has a fifty day moving average of $15.10 and a 200 day moving average of $15.62.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 EPS for the quarter, topping the consensus estimate of $1.99 by $0.62. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. As a group, sell-side analysts anticipate that Sinclair will post 4.24 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.25 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.00 annualized dividend and a dividend yield of 6.98%. Sinclair’s dividend payout ratio (DPR) is 21.46%.

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.