Brokerages Set Sinclair, Inc. (NASDAQ:SBGI) Price Target at $19.10

Shares of Sinclair, Inc. (NASDAQ:SBGI) have received a consensus recommendation of “Hold” from the five analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $19.10.

A number of research firms have issued reports on SBGI. Wells Fargo & Company cut their price objective on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating for the company in a report on Thursday, February 27th. StockNews.com cut shares of Sinclair from a “hold” rating to a “sell” rating in a research report on Monday. Guggenheim decreased their price target on shares of Sinclair from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Finally, Benchmark reduced their price objective on shares of Sinclair from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th.

Insider Buying and Selling

In other Sinclair news, Chairman David D. Smith acquired 63,073 shares of the company’s stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $12.91 per share, with a total value of $814,272.43. Following the completion of the purchase, the chairman now owns 1,526,029 shares of the company’s stock, valued at approximately $19,701,034.39. This represents a 4.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 458,530 shares of company stock valued at $6,636,392 over the last ninety days. 41.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SBGI. Carronade Capital Management LP raised its holdings in shares of Sinclair by 418.1% in the fourth quarter. Carronade Capital Management LP now owns 440,419 shares of the company’s stock valued at $7,108,000 after purchasing an additional 355,419 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Sinclair by 65.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 717,007 shares of the company’s stock valued at $11,422,000 after purchasing an additional 282,400 shares during the last quarter. Kennondale Capital Management LLC purchased a new stake in shares of Sinclair in the first quarter valued at about $1,718,000. Trexquant Investment LP purchased a new stake in shares of Sinclair in the fourth quarter valued at about $1,688,000. Finally, Algert Global LLC purchased a new stake in Sinclair during the first quarter worth about $1,608,000. 41.71% of the stock is owned by institutional investors.

Sinclair Stock Down 2.8%

Sinclair stock opened at $15.36 on Tuesday. The firm has a market capitalization of $1.02 billion, a PE ratio of -4.65 and a beta of 1.36. The company has a debt-to-equity ratio of 11.73, a current ratio of 1.91 and a quick ratio of 1.91. The company’s 50-day moving average is $14.97 and its 200-day moving average is $15.60. Sinclair has a fifty-two week low of $11.13 and a fifty-two week high of $18.46.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, May 7th. The company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.78) by ($0.40). The company had revenue of $776.00 million for the quarter, compared to the consensus estimate of $774.79 million. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. Sell-side analysts anticipate that Sinclair will post 4.24 earnings per share for the current year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.51%. The ex-dividend date is Friday, May 30th. Sinclair’s dividend payout ratio is presently 49.75%.

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.