Sinclair, Inc. (SBGI) to Issue Quarterly Dividend of $0.25 on December 16th

Sinclair, Inc. (NASDAQ:SBGI) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Monday, December 2nd.

Sinclair has increased its dividend payment by an average of 7.7% annually over the last three years. Sinclair has a payout ratio of 2,500.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Sinclair Price Performance

Sinclair stock traded down $0.26 during midday trading on Friday, reaching $16.67. 10,511 shares of the stock traded hands, compared to its average volume of 411,596. The company has a debt-to-equity ratio of 14.93, a quick ratio of 1.78 and a current ratio of 1.78. The company has a 50-day simple moving average of $15.56 and a two-hundred day simple moving average of $14.14. Sinclair has a 12-month low of $11.13 and a 12-month high of $18.20.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. Sinclair had a negative net margin of 6.14% and a positive return on equity of 69.78%. The firm had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $836.65 million. During the same quarter in the previous year, the business posted ($1.09) earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Analysts expect that Sinclair will post 4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on SBGI shares. Wells Fargo & Company raised Sinclair from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $13.00 to $19.00 in a research note on Thursday. StockNews.com raised Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Benchmark raised their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Rosenblatt Securities raised their price objective on shares of Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th.

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.