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

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date of this dividend is Monday, December 2nd.

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

Sinclair Trading Down 2.8 %

Shares of SBGI stock opened at $16.93 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a fifty day moving average price of $15.56 and a 200 day moving average price of $14.14. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.20.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SBGI shares. Wells Fargo & Company raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $19.00 in a research report on Thursday. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Benchmark boosted 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, Rosenblatt Securities boosted their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th.

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.