Sinclair, Inc. (SBGI) To Go Ex-Dividend on August 31st

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, August 5th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.25 per share on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, August 31st.

Sinclair has raised its dividend payment by an average of 0.0%per year over the last three years. Sinclair has a payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sinclair to earn ($1.52) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -65.8%.

Sinclair Trading Up 6.1%

NASDAQ SBGI opened at $14.76 on Friday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 19.68 and a beta of 1.06. Sinclair has a 52-week low of $11.89 and a 52-week high of $17.88. The firm has a 50-day moving average price of $14.05 and a 200 day moving average price of $14.35. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 11.10.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.82). Sinclair had a net margin of 1.60% and a negative return on equity of 15.61%. The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $838.99 million. During the same period in the prior year, the firm posted ($0.91) EPS. Sinclair’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that Sinclair will post 1.68 EPS for the current year.

Analysts Set New Price Targets

SBGI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft set a $17.00 target price on shares of Sinclair in a research report on Wednesday, April 15th. Guggenheim lowered their price target on shares of Sinclair from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Wall Street Zen raised shares of Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Sinclair from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company reduced their target price on Sinclair from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sinclair has a consensus rating of “Hold” and a consensus price target of $19.20.

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.