Sinclair (SBGI) to Release Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Sinclair has set its Q1 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.35. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The firm had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $838.75 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was down 14.0% on a year-over-year basis. On average, analysts expect Sinclair to post $2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sinclair Trading Down 1.8 %

Shares of NASDAQ SBGI opened at $12.30 on Wednesday. The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34. Sinclair has a 52-week low of $9.39 and a 52-week high of $20.57. The firm has a 50 day moving average price of $12.91 and a two-hundred day moving average price of $13.37. The stock has a market cap of $782.28 million, a P/E ratio of -2.55, a price-to-earnings-growth ratio of 0.29 and a beta of 1.41.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.13%. The ex-dividend date was Friday, March 8th. Sinclair’s dividend payout ratio (DPR) is currently -20.70%.

Insider Buying and Selling

In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Daniel C. Keith sold 30,086 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the completion of the sale, the director now owns 30,000 shares in the company, valued at $407,400. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO David R. Bochenek sold 20,803 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $13.44, for a total transaction of $279,592.32. The disclosure for this sale can be found here. 41.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SBGI. Wells Fargo & Company upped their price objective on shares of Sinclair from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, March 1st. StockNews.com lowered shares of Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities upped their price objective on shares of Sinclair from $10.40 to $15.70 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.14.

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.