Sinclair, Inc. (SBGI) to Issue Quarterly Dividend of $0.25 on March 24th

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Friday, March 7th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date is Monday, March 10th.

Sinclair has raised its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a payout ratio of 58.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Price Performance

SBGI opened at $14.40 on Friday. The stock has a market cap of $956.46 million, a price-to-earnings ratio of -4.36 and a beta of 1.50. Sinclair has a 1 year low of $11.13 and a 1 year high of $18.45. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The stock has a fifty day moving average price of $15.04 and a 200 day moving average price of $15.62.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, February 26th. The company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. Analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Analyst Ratings Changes

SBGI has been the topic of several recent research reports. StockNews.com lowered Sinclair from a “buy” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company cut their target price on Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 12th. Guggenheim lifted their price objective on Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sinclair presently has an average rating of “Hold” and an average price target of $19.70.

Insider Activity at Sinclair

In other news, Chairman David D. Smith purchased 38,410 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $14.01 per share, for a total transaction of $538,124.10. Following the completion of the purchase, the chairman now directly owns 645,564 shares of the company’s stock, valued at approximately $9,044,351.64. The trade was a 6.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 46.60% 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.