Sinclair, Inc. Declares Quarterly Dividend of $0.25 (NASDAQ:SBGI)

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Monday, August 31st will be given a dividend of 0.25 per share on Tuesday, September 15th. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date is Monday, August 31st.

Sinclair has raised its dividend payment by an average of 0.0%annually over the last three years. Sinclair has a dividend payout ratio of 66.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.6%

Shares of SBGI opened at $13.91 on Thursday. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 11.10. The firm has a market cap of $1.00 billion, a P/E ratio of 15.46 and a beta of 1.06. The company’s 50-day moving average price is $14.05 and its 200 day moving average price is $14.35. Sinclair has a 12-month low of $11.89 and a 12-month high of $17.88.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.82). Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The business had revenue of $840.00 million for the quarter, compared to analysts’ expectations of $838.99 million. During the same period in the previous year, the company earned ($0.91) earnings per share. Sinclair’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts forecast that Sinclair will post 1.68 earnings per share for the current year.

Insiders Place Their Bets

In other Sinclair news, Director Daniel C. Keith sold 17,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $15.02, for a total value of $255,340.00. Following the completion of the transaction, the director owned 25,122 shares in the company, valued at $377,332.44. This represents a 40.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 42.10% of the stock is currently owned by company insiders.

Institutional Trading of Sinclair

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in Sinclair by 142.0% during 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 acquired a new stake in shares of Sinclair in the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its holdings in shares of Sinclair by 175.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,954 shares of the company’s stock valued at $41,000 after acquiring an additional 1,882 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Sinclair during the third quarter worth approximately $48,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sinclair in the 2nd quarter valued at $54,000. 41.71% of the stock is owned by hedge funds and other institutional investors.

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.