Sinclair, Inc. (SBGI) To Go Ex-Dividend on December 2nd

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Friday, November 29th,Zacks Dividends reports. Shareholders 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 yield of 5.46%. The ex-dividend date of this dividend is Monday, December 2nd.

Sinclair has raised its dividend payment by an average of 7.7% per year over the last three years. Sinclair has a dividend payout ratio of 588.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Sinclair to earn ($0.02) per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of -5,000.0%.

Sinclair Stock Performance

Shares of Sinclair stock opened at $18.32 on Friday. The stock’s fifty day simple moving average is $16.61 and its 200 day simple moving average is $14.54. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market capitalization of $1.22 billion, a PE ratio of -5.55, a PEG ratio of 0.16 and a beta of 1.53. Sinclair has a 12 month low of $11.13 and a 12 month high of $18.45.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data on Wednesday, November 6th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.54. Sinclair had a positive return on equity of 63.89% and a negative net margin of 6.14%. The business had revenue of $917.00 million for the quarter, compared to analysts’ expectations of $923.02 million. During the same quarter in the previous year, the business posted ($0.30) EPS. Sinclair’s revenue for the quarter was up 19.6% on a year-over-year basis. On average, research analysts predict that Sinclair will post 4.24 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBGI. JPMorgan Chase & Co. increased their price objective on shares of Sinclair from $14.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Benchmark increased their target price on Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com upgraded Sinclair from a “sell” rating to a “hold” rating in a report on Saturday, September 28th. Rosenblatt Securities increased their price objective on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company upgraded Sinclair from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $13.00 to $19.00 in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Sinclair has a consensus rating of “Hold” and an average price target of $20.10.

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.