Sinclair (NASDAQ:SBGI) Upgraded by StockNews.com to Hold

by · The Markets Daily

Sinclair (NASDAQ:SBGI – Get Free Report) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Sinclair from $16.40 to $16.50 and gave the company a “neutral” rating in a research report on Friday, September 20th. Benchmark lifted their price target on shares of Sinclair from $29.00 to $30.00 and gave the company a “buy” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.88.

View Our Latest Analysis on Sinclair

Sinclair Stock Up 2.6 %

SBGI stock opened at $15.26 on Friday. The business’s 50-day moving average price is $13.88 and its 200-day moving average price is $13.28. The stock has a market cap of $1.01 billion, a P/E ratio of -2.14, a PEG 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 has a twelve month low of $9.39 and a twelve month high of $17.58.

Sinclair (NASDAQ:SBGI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The business had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned ($1.09) earnings per share. On average, equities research analysts forecast that Sinclair will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SBGI. Charles Schwab Investment Management Inc. raised its position in Sinclair by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 648,481 shares of the company’s stock valued at $8,450,000 after purchasing an additional 13,874 shares during the period. Dimensional Fund Advisors LP lifted its position in Sinclair by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,889,863 shares of the company’s stock worth $24,626,000 after buying an additional 78,793 shares during the last quarter. Principal Financial Group Inc. lifted its position in Sinclair by 29.6% in the fourth quarter. Principal Financial Group Inc. now owns 36,926 shares of the company’s stock worth $481,000 after buying an additional 8,436 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Sinclair during the fourth quarter worth $468,000. Finally, Alden Global Capital LLC increased its position in Sinclair by 86.1% during the fourth quarter. Alden Global Capital LLC now owns 645,400 shares of the company’s stock valued at $8,410,000 after acquiring an additional 298,508 shares during the last quarter. Institutional investors own 41.71% of the company’s stock.

Sinclair Company Profile

(Get Free Report)

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.

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