Sinclair (NASDAQ:SBGI) Reaches New 52-Week High – Here’s What Happened

Sinclair, Inc. (NASDAQ:SBGI) shares hit a new 52-week high on Monday . The stock traded as high as $18.45 and last traded at $17.84, with a volume of 134647 shares. The stock had previously closed at $18.08.

Wall Street Analyst Weigh In

SBGI has been the topic of several recent research reports. Guggenheim upped their target price on shares of Sinclair from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Rosenblatt Securities upped their target price on shares of 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 raised shares of Sinclair from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $13.00 to $19.00 in a research note on Thursday, November 7th. Benchmark upped their target price on shares of Sinclair from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, StockNews.com raised shares of Sinclair from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.10.

Sinclair Stock Down 2.6 %

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 cap of $1.18 billion, a price-to-earnings ratio of -5.55, a PEG ratio of 0.16 and a beta of 1.55. The firm’s fifty day simple moving average is $16.95 and its 200 day simple moving average is $14.71.

Sinclair (NASDAQ:SBGI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.43 EPS for the quarter, topping 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 63.89%. The company had revenue of $917.00 million during the quarter, compared to analysts’ expectations of $923.02 million. During the same quarter in the previous year, the business posted ($0.30) EPS. The firm’s revenue was up 19.6% on a year-over-year basis. Sell-side analysts predict that Sinclair, Inc. will post 4.24 earnings per share for the current year.

Sinclair Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.61%. The ex-dividend date of this dividend is Monday, December 2nd. Sinclair’s payout ratio is -30.30%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SBGI. nVerses Capital LLC acquired a new position in shares of Sinclair in the 2nd quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in shares of Sinclair by 81.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,283 shares of the company’s stock valued at $35,000 after buying an additional 1,026 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Sinclair in the 3rd quarter valued at $39,000. Headlands Technologies LLC boosted its holdings in shares of Sinclair by 1,039.0% in the 2nd quarter. Headlands Technologies LLC now owns 4,647 shares of the company’s stock valued at $62,000 after buying an additional 4,239 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Sinclair in the 3rd quarter valued at $91,000. Institutional investors and hedge funds 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.