Sinclair, Inc. (NASDAQ:SBGI) Receives Consensus Rating of “Hold” from Analysts

Sinclair, Inc. (NASDAQ:SBGI) has earned an average rating of “Hold” from the six brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $19.20.

A number of research firms have issued reports on SBGI. Wall Street Zen raised shares of Sinclair from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Benchmark lifted their price objective on shares of Sinclair from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Wells Fargo & Company cut their price objective on shares of Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Guggenheim cut their price objective on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings raised shares of Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th.

Insider Transactions at Sinclair

In related news, COO Robert Weisbord sold 10,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $15.70, for a total value of $157,000.00. Following the transaction, the chief operating officer directly owned 284,525 shares of the company’s stock, valued at approximately $4,467,042.50. The trade was a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel C. Keith sold 22,613 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total transaction of $296,230.30. Following the completion of the transaction, the director directly owned 25,027 shares in the company, valued at $327,853.70. This trade represents a 47.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,672 shares of company stock worth $758,498 over the last three months. 41.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Sinclair

A number of hedge funds and other institutional investors have recently made changes to their positions in SBGI. Geneos Wealth Management Inc. boosted its holdings in shares of Sinclair by 142.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock worth $25,000 after buying an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Sinclair in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of Sinclair by 175.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock worth $41,000 after buying an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Sinclair in the 3rd quarter worth about $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Sinclair in the 2nd quarter worth about $54,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

Sinclair Price Performance

SBGI opened at $14.13 on Friday. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.70 and a beta of 1.09. The firm’s fifty day moving average price is $14.32 and its two-hundred day moving average price is $14.90. Sinclair has a 1 year low of $11.89 and a 1 year high of $17.88.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.96. The firm had revenue of $807.00 million for the quarter, compared to the consensus estimate of $792.63 million. Sinclair had a net margin of 2.00% and a negative return on equity of 12.62%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.30) EPS. As a group, analysts anticipate that Sinclair will post 1.68 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 26th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, May 26th. Sinclair’s payout ratio is 111.11%.

Sinclair Company Profile

Sinclair Broadcast Group, Inc (NASDAQ: SBGI) is a media and entertainment company headquartered in Hunt Valley, Maryland. Founded in 1971 as a single UHF television station operator, Sinclair has grown through strategic acquisitions and organic expansion to become one of the largest owners of local television stations in the United States. Over its history, the company has pursued a diversified portfolio that includes both traditional broadcast assets and newer digital platforms.

At its core, Sinclair operates over 190 television stations affiliated with the major national broadcast networks, including ABC, CBS, NBC, Fox, The CW and MyNetworkTV.