Sinclair (NASDAQ:SBGI) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Sinclair (NASDAQ:SBGI) from a hold rating to a sell rating in a report published on Friday.

Separately, Rosenblatt Securities upped their price target on Sinclair from $16.40 to $16.50 and gave the stock a neutral rating in a research note on Friday. 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 stock. Based on data from MarketBeat.com, Sinclair currently has an average rating of Hold and an average target price of $19.88.

Sinclair Stock Down 2.0 %

Shares of NASDAQ SBGI opened at $14.38 on Friday. The firm has a fifty day simple moving average of $13.88 and a two-hundred day simple moving average of $13.22. Sinclair has a 12 month low of $9.39 and a 12 month high of $17.58. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. The firm has a market capitalization of $951.64 million, a PE ratio of -2.02, a price-to-earnings-growth ratio of 0.12 and a beta of 1.54.

Sinclair (NASDAQ:SBGI) last released 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 company 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%. Sinclair’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.09) earnings per share. Equities analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Sinclair Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SBGI. Empyrean Capital Partners LP bought a new position in shares of Sinclair during the second quarter valued at $2,873,000. Alden Global Capital LLC increased its stake in Sinclair by 10.5% during the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock valued at $16,341,000 after purchasing an additional 116,074 shares in the last quarter. Gabelli Funds LLC raised its holdings in Sinclair by 1.7% in the second quarter. Gabelli Funds LLC now owns 1,208,700 shares of the company’s stock worth $16,112,000 after buying an additional 20,700 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Sinclair by 28.0% in the second quarter. Hsbc Holdings PLC now owns 13,325 shares of the company’s stock worth $177,000 after buying an additional 2,918 shares during the last quarter. Finally, Williams Financial LLC bought a new position in shares of Sinclair in the second quarter worth approximately $217,000. Hedge funds and other institutional investors own 41.71% of the company’s stock.

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.