Sinclair (NASDAQ:SBGI) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Sinclair (NASDAQ:SBGI) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

Separately, Rosenblatt Securities increased their target price on Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $19.88.

Sinclair Stock Performance

Shares of SBGI stock opened at $14.38 on Friday. The firm has a market capitalization of $951.64 million, a PE ratio of -2.02, a P/E/G ratio of 0.12 and a beta of 1.54. The company has a 50 day moving average price of $13.88 and a 200-day moving average price of $13.22. Sinclair has a 52 week low of $9.39 and a 52 week high of $17.58. 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 (NASDAQ:SBGI) last posted its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.09) EPS. As a group, equities research analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Sinclair Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 annualized dividend and a yield of 6.95%. Sinclair’s payout ratio is presently -14.04%.

Institutional Investors Weigh In On Sinclair

A number of hedge funds have recently modified their holdings of SBGI. nVerses Capital LLC purchased a new position in Sinclair during the second quarter valued at $28,000. Fidelis Capital Partners LLC purchased a new position in shares of Sinclair during the 1st quarter valued at about $49,000. EntryPoint Capital LLC grew its stake in shares of Sinclair by 37.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock valued at $54,000 after acquiring an additional 1,085 shares during the period. Headlands Technologies LLC increased its holdings in Sinclair by 1,039.0% in the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after acquiring an additional 4,239 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Sinclair during the 1st quarter worth approximately $76,000. Institutional investors 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.