Rosenblatt Securities Boosts Sinclair (NASDAQ:SBGI) Price Target to $16.50

Sinclair (NASDAQ:SBGI) had its price objective upped by Rosenblatt Securities from $16.40 to $16.50 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Sinclair Price Performance

SBGI stock opened at $14.38 on Friday. The stock’s 50 day moving average is $13.88 and its two-hundred day moving average is $13.22. Sinclair has a 52-week low of $9.39 and a 52-week high of $17.58. The company 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 quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 14.93.

Sinclair (NASDAQ:SBGI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (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 analyst estimates of $836.65 million. Sinclair had a negative net margin of 10.78% and a positive return on equity of 22.55%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.09) earnings per share. Analysts predict that Sinclair will post 4.57 earnings per share for the current fiscal year.

Sinclair Announces Dividend

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

Institutional Trading of Sinclair

Several hedge funds and other institutional investors have recently bought and sold shares of SBGI. Dimensional Fund Advisors LP grew its position in shares of Sinclair by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after acquiring an additional 78,793 shares in the last quarter. Alden Global Capital LLC boosted its holdings in Sinclair by 86.1% in the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock worth $8,410,000 after purchasing an additional 298,508 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Sinclair by 52.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 114,864 shares of the company’s stock valued at $1,549,000 after purchasing an additional 39,624 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Sinclair during the first quarter worth $1,359,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Sinclair in the 4th quarter valued at about $117,000. 41.71% of the stock is owned by institutional investors.

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.