Rosenblatt Securities Raises Sinclair (NASDAQ:SBGI) Price Target to $16.50

Sinclair (NASDAQ:SBGI) had its price target hoisted by Rosenblatt Securities from $16.40 to $16.50 in a research note published on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Sinclair Trading Up 4.3 %

SBGI opened at $14.67 on Friday. The firm has a market cap of $970.83 million, a price-to-earnings ratio of -2.06, a PEG ratio of 0.12 and a beta of 1.54. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair has a 12 month low of $9.39 and a 12 month high of $17.58. The stock has a fifty day moving average price of $13.90 and a 200-day moving average price of $13.22.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.40. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.09) EPS. As a group, equities research analysts anticipate that Sinclair will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.82%. Sinclair’s dividend payout ratio is currently -14.04%.

Institutional Investors Weigh In On Sinclair

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in Sinclair during the second quarter worth $28,000. Fidelis Capital Partners LLC purchased a new position in Sinclair in the first quarter valued at $49,000. EntryPoint Capital LLC raised its stake 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 buying an additional 1,085 shares in the last quarter. Headlands Technologies LLC raised its stake in Sinclair by 1,039.0% in the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new stake in Sinclair in the first quarter valued at $76,000. Institutional investors and hedge funds own 41.71% of the company’s stock.

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.