Sinclair (NASDAQ:SBGI) Price Target Increased to $30.00 by Analysts at Benchmark

Sinclair (NASDAQ:SBGI) had its price target increased by Benchmark from $29.00 to $30.00 in a research report sent to investors on Monday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other research analysts also recently weighed in on SBGI. Rosenblatt Securities lifted their target price on Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a research note on Friday, September 20th. StockNews.com cut Sinclair from a hold rating to a sell rating in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $19.88.

Sinclair Trading Up 0.7 %

Shares of SBGI stock opened at $14.88 on Monday. The business’s 50 day moving average is $13.85 and its two-hundred day moving average is $13.25. Sinclair has a twelve month low of $9.39 and a twelve month high of $17.58. The company has a market capitalization of $984.73 million, a P/E ratio of -2.09, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.40. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The company had revenue of $829.00 million for the quarter, compared to the consensus estimate of $836.65 million. During the same period last year, the business posted ($1.09) EPS. The company’s revenue was up 7.9% on a year-over-year basis. Equities 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 was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.72%. Sinclair’s dividend payout ratio is currently -14.04%.

Institutional Trading of Sinclair

Several hedge funds have recently modified their holdings of SBGI. nVerses Capital LLC acquired a new position in Sinclair during the second quarter worth $28,000. Fidelis Capital Partners LLC acquired a new position in Sinclair during the first quarter worth $49,000. EntryPoint Capital LLC raised its holdings in Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after purchasing an additional 1,085 shares during the last quarter. Headlands Technologies LLC raised its holdings in Sinclair by 1,039.0% during the second quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock worth $62,000 after purchasing an additional 4,239 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Sinclair during the first quarter worth $76,000. 41.71% of the stock is owned by institutional investors and hedge funds.

Sinclair Company Profile

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.