Sinclair (NASDAQ:SBGI) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Sinclair (NASDAQ:SBGI) from a sell rating to a hold rating in a report released on Saturday.

Other analysts have also issued research reports about the company. Benchmark boosted their target price on Sinclair from $29.00 to $30.00 and gave the company a buy rating in a research report on Monday, September 23rd. Rosenblatt Securities boosted their target price on Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Sinclair presently has a consensus rating of Hold and a consensus target price of $19.88.

Sinclair Trading Down 0.7 %

SBGI opened at $15.20 on Friday. Sinclair has a one year low of $9.39 and a one year high of $17.58. The stock has a market capitalization of $1.01 billion, a PE ratio of -2.13, a P/E/G ratio of 0.13 and a beta of 1.54. The business’s 50 day moving average price is $13.89 and its 200 day moving average price is $13.29. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.09) earnings per share. As a group, equities research analysts expect that Sinclair will post 4.57 EPS for the current year.

Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.58%. The ex-dividend date was Friday, August 30th. Sinclair’s dividend payout ratio is currently -14.04%.

Institutional Trading of Sinclair

A number of large investors have recently modified their holdings of SBGI. Empyrean Capital Partners LP purchased a new position in Sinclair in the second quarter valued at $2,873,000. Alden Global Capital LLC increased its holdings in Sinclair by 10.5% in the second quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after buying an additional 116,074 shares during the last quarter. Gabelli Funds LLC increased its holdings in Sinclair by 1.7% in the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock valued at $16,112,000 after buying an additional 20,700 shares during the last quarter. Hsbc Holdings PLC increased its holdings in Sinclair by 28.0% in the second quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock valued at $177,000 after buying an additional 2,918 shares during the last quarter. Finally, Williams Financial LLC acquired a new position in Sinclair in the second quarter valued at $217,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.