Sinclair, Inc. (NASDAQ:SBGI) Given Average Rating of “Hold” by Brokerages

Shares of Sinclair, Inc. (NASDAQ:SBGI) have been assigned an average recommendation of “Hold” from the five research firms that are covering the firm, 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 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.14.

Several research analysts recently weighed in on SBGI shares. Rosenblatt Securities upped their price target on Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research report on Thursday, January 18th. StockNews.com downgraded Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company upped their price target on Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st.

Insider Transactions at Sinclair

In related news, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $13.44, for a total transaction of $279,592.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total value of $408,567.88. Following the sale, the director now directly owns 30,000 shares of the company’s stock, valued at $407,400. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sinclair

Several large investors have recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new stake in shares of Sinclair in the 1st quarter valued at $76,000. Fidelis Capital Partners LLC bought a new stake in shares of Sinclair in the first quarter worth about $49,000. Janney Montgomery Scott LLC increased its holdings in shares of Sinclair by 32.3% in the first quarter. Janney Montgomery Scott LLC now owns 45,379 shares of the company’s stock worth $611,000 after acquiring an additional 11,082 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Sinclair by 92.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,706 shares of the company’s stock worth $144,000 after purchasing an additional 5,147 shares during the period. Finally, Verdence Capital Advisors LLC bought a new position in shares of Sinclair during the 1st quarter valued at about $160,000. Institutional investors own 41.71% of the company’s stock.

Sinclair Trading Down 0.7 %

Shares of Sinclair stock opened at $13.21 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 18.73. The firm has a market cap of $840.16 million, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 0.32 and a beta of 1.38. The business has a fifty day simple moving average of $12.80 and a 200-day simple moving average of $13.42. Sinclair has a fifty-two week low of $9.39 and a fifty-two week high of $17.58.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.35. The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $838.75 million. Sinclair had a positive return on equity of 26.46% and a negative net margin of 9.29%. Sinclair’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 earnings per share. On average, equities analysts forecast that Sinclair will post 2.42 EPS for the current fiscal year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were issued a $0.25 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.57%. Sinclair’s payout ratio is presently -20.70%.

About Sinclair

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.