Sinclair (NASDAQ:SBGI) Given New $16.00 Price Target at JPMorgan Chase & Co.

Sinclair (NASDAQ:SBGI) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 0.44% from the company’s previous close.

SBGI has been the subject of several other research reports. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Rosenblatt Securities increased their target price on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $13.00 to $19.00 in a research report on Thursday, November 7th. Finally, Benchmark upped their price target on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.38.

Sinclair Price Performance

SBGI traded down $0.29 during trading hours on Tuesday, hitting $16.07. The company’s stock had a trading volume of 35,382 shares, compared to its average volume of 412,794. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -4.91, a P/E/G ratio of 0.13 and a beta of 1.53. The business’s 50-day moving average price is $15.65 and its 200-day moving average price is $14.22. 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 has a 12 month low of $11.13 and a 12 month high of $18.20.

Sinclair (NASDAQ:SBGI) last announced its earnings results on Wednesday, November 6th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a negative net margin of 6.14% and a positive return on equity of 69.78%. The firm had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. During the same period in the prior year, the company earned ($0.30) EPS. The business’s revenue was up 19.6% compared to the same quarter last year. Sell-side analysts expect that Sinclair will post 4.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC purchased a new stake in shares of Sinclair during the third quarter valued at about $1,605,000. Empowered Funds LLC grew its holdings in Sinclair by 5.4% in the third quarter. Empowered Funds LLC now owns 232,090 shares of the company’s stock worth $3,551,000 after purchasing an additional 11,792 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair during the third quarter worth $39,000. Pinnacle Associates Ltd. lifted its holdings in shares of Sinclair by 2.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 642,738 shares of the company’s stock valued at $9,834,000 after purchasing an additional 14,384 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in shares of Sinclair by 71.4% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $55,000 after purchasing an additional 1,500 shares in the last quarter. 41.71% of the stock is currently owned by institutional investors.

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.