Sinclair (NASDAQ:SBGI) Hits New 1-Year High – Here’s Why

Sinclair, Inc. (NASDAQ:SBGI)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $17.69 and last traded at $17.67, with a volume of 340075 shares. The stock had previously closed at $16.66.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Finally, Benchmark raised their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.88.

Sinclair Trading Up 6.1 %

The company has a market cap of $1.17 billion, a PE ratio of -2.48, a PEG ratio of 0.14 and a beta of 1.55. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The company has a 50 day simple moving average of $14.14 and a two-hundred day simple moving average of $13.55.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.09) EPS. Sell-side analysts forecast that Sinclair, Inc. will post 4.57 EPS for the current year.

Sinclair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.25 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 5.66%. Sinclair’s dividend payout ratio (DPR) is currently -14.04%.

Institutional Trading of Sinclair

Institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Sinclair during the 2nd quarter valued at $28,000. GAMMA Investing LLC lifted its position in shares of Sinclair by 81.6% in the third quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after buying an additional 1,026 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Sinclair during the 1st quarter worth about $49,000. EntryPoint Capital LLC increased its holdings in shares of Sinclair by 37.2% during the 1st 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 during the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of Sinclair by 1,039.0% during the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after acquiring an additional 4,239 shares during the last quarter. 41.71% of the stock is currently owned by institutional investors and hedge funds.

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.