Analysts Set Sinclair, Inc. (NASDAQ:SBGI) PT at $19.20

Sinclair, Inc. (NASDAQ:SBGI) has earned an average rating of “Reduce” from the six research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $19.20.

A number of equities research analysts have commented on the company. Weiss Ratings cut Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Zacks Research cut Sinclair from a “hold” rating to a “strong sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $17.00 target price on Sinclair in a research note on Wednesday, April 15th. Wall Street Zen cut Sinclair from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company dropped their price target on Sinclair from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st.

Sinclair Stock Performance

SBGI opened at $13.88 on Thursday. The company has a 50 day simple moving average of $14.06 and a two-hundred day simple moving average of $14.31. The company has a debt-to-equity ratio of 13.28, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a market cap of $1.00 billion, a P/E ratio of 18.51 and a beta of 1.06. Sinclair has a 1-year low of $12.46 and a 1-year high of $17.88.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.82). The firm had revenue of $840.00 million for the quarter, compared to the consensus estimate of $838.99 million. Sinclair had a net margin of 1.60% and a negative return on equity of 16.09%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.91) earnings per share. Equities analysts forecast that Sinclair will post 1.48 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, August 31st. Sinclair’s payout ratio is 133.33%.

Insiders Place Their Bets

In other Sinclair news, EVP David B. Gibber sold 29,246 shares of Sinclair stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.74, for a total value of $401,840.04. Following the sale, the executive vice president directly owned 184,244 shares in the company, valued at approximately $2,531,512.56. The trade was a 13.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel C. Keith sold 17,000 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $15.02, for a total transaction of $255,340.00. Following the completion of the sale, the director owned 25,122 shares in the company, valued at approximately $377,332.44. The trade was a 40.36% decrease in their position. The SEC filing for this sale provides additional information. 42.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sinclair

Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its stake in Sinclair by 142.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,815 shares of the company’s stock valued at $25,000 after buying an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC bought a new stake in Sinclair in the 4th quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Sinclair during the 3rd quarter worth approximately $48,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Sinclair during the 2nd quarter worth approximately $54,000. 41.71% of the stock is owned by institutional investors.

About Sinclair

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.