Sinclair (NASDAQ:SBGI) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sinclair (NASDAQ:SBGI) from an underweight rating to an equal weight rating in a research note released on Thursday morning, Marketbeat.com reports. Wells Fargo & Company currently has $19.00 price objective on the stock, up from their prior price objective of $13.00.

SBGI has been the subject of a number of other research reports. Benchmark increased their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Finally, Rosenblatt Securities upped their price objective on Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th.

Sinclair Stock Down 6.0 %

SBGI stock opened at $15.91 on Thursday. The business’s 50-day moving average price is $15.60 and its 200-day moving average price is $14.16. The stock has a market cap of $1.06 billion, a P/E ratio of -4.82, a PEG ratio of 0.14 and a beta of 1.53. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.20.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $836.65 million. Sinclair had a positive return on equity of 69.78% and a negative net margin of 6.14%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.09) earnings per share. On average, equities research analysts forecast that Sinclair will post 4.57 EPS for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.00 annualized dividend and a yield of 6.29%. Sinclair’s dividend payout ratio (DPR) is presently -30.30%.

Institutional Trading of Sinclair

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in Sinclair during the second quarter valued at $28,000. GAMMA Investing LLC raised its holdings in Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock worth $35,000 after purchasing an additional 1,026 shares during the period. Harbor Capital Advisors Inc. purchased a new position in Sinclair during the third quarter worth approximately $39,000. EntryPoint Capital LLC grew its holdings in Sinclair by 37.2% in the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after purchasing an additional 1,085 shares during the period. Finally, Headlands Technologies LLC increased its position in shares of Sinclair by 1,039.0% in the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company’s stock.

About Sinclair

Sinclair, Inc, a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis. The Local Media segment operates broadcast television stations, original networks, and content; provides free-over-the-air programming and live local sporting events on its stations; distributes its content to multi-channel video programming distributors in exchange for contractual fees; and produces local and original news programs.