Sinclair, Inc. (NASDAQ:SBGI) Given Consensus Rating of “Hold” by Brokerages

Sinclair, Inc. (NASDAQ:SBGI) has received an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.20.

SBGI has been the subject of several recent analyst reports. Guggenheim cut their target price on Sinclair from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Wells Fargo & Company cut their target price 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. Weiss Ratings cut Sinclair from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on Sinclair in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded Sinclair from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th.

Sinclair Stock Up 2.6%

NASDAQ SBGI opened at $13.97 on Wednesday. The business has a fifty day moving average price of $14.52 and a two-hundred day moving average price of $14.62. The company has a debt-to-equity ratio of 11.10, a current ratio of 2.42 and a quick ratio of 2.42. Sinclair has a fifty-two week low of $11.89 and a fifty-two week high of $17.88. The stock has a market capitalization of $1.01 billion, a PE ratio of 15.52 and a beta of 1.05.

Sinclair (NASDAQ:SBGI) last released its earnings results on Thursday, April 30th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.96. Sinclair had a negative return on equity of 12.62% and a net margin of 2.00%.The firm had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $792.63 million. During the same period in the prior year, the company earned ($2.30) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Sinclair will post 1.68 earnings per share for the current fiscal year.

Sinclair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 26th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date was Tuesday, May 26th. Sinclair’s dividend payout ratio is presently 111.11%.

Insider Activity at Sinclair

In other news, Director Daniel C. Keith sold 22,613 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $13.10, for a total value of $296,230.30. Following the completion of the transaction, the director directly owned 25,027 shares in the company, valued at approximately $327,853.70. This represents a 47.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 42,000 shares of company stock valued at $550,200. 42.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SBGI. Geneos Wealth Management Inc. lifted its stake 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 valued at $25,000 after acquiring an additional 1,065 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in shares of Sinclair in the 4th quarter valued at $32,000. Tower Research Capital LLC TRC lifted its stake 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 valued at $41,000 after acquiring an additional 1,882 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in Sinclair in the third quarter valued at $48,000. Finally, Raymond James Financial Inc. acquired a new stake in Sinclair in the second quarter valued at $54,000. 41.71% of the stock is currently owned by 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.