Sinclair (NASDAQ:SBGI) Downgraded by StockNews.com

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

Separately, Rosenblatt Securities lifted their price target on shares of Sinclair from $16.40 to $16.50 and gave the company a neutral rating in a report on Friday.

Sinclair Stock Up 4.3 %

Shares of SBGI stock opened at $14.67 on Friday. The company has a market capitalization of $970.83 million, a price-to-earnings ratio of -2.06, a PEG ratio of 0.12 and a beta of 1.54. Sinclair has a one year low of $9.39 and a one year high of $17.58. The company’s fifty day moving average price is $13.90 and its 200-day moving average price is $13.22. The company has a debt-to-equity ratio of 14.93, a current ratio of 1.78 and a quick ratio of 1.78.

Sinclair (NASDAQ:SBGI) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.40. The company had revenue of $829.00 million for 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.09) EPS. Sell-side analysts expect that Sinclair will post 4.57 EPS for the current fiscal year.

Sinclair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.82%. Sinclair’s dividend payout ratio (DPR) is presently -14.04%.

Institutional Trading of Sinclair

A number of large investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL increased its holdings in shares of Sinclair by 2.4% in the 1st quarter. Gamco Investors INC. ET AL now owns 3,591,266 shares of the company’s stock worth $48,374,000 after buying an additional 85,070 shares during the last quarter. Capital Management Corp VA increased its holdings in shares of Sinclair by 36.7% in the 1st quarter. Capital Management Corp VA now owns 2,006,720 shares of the company’s stock worth $27,031,000 after buying an additional 538,740 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sinclair by 4.4% in the 4th 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. Alden Global Capital LLC increased its holdings in shares of Sinclair by 10.5% in the 2nd quarter. Alden Global Capital LLC now owns 1,225,868 shares of the company’s stock worth $16,341,000 after buying an additional 116,074 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Sinclair by 1.7% in the 2nd 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. 41.71% of the stock is currently owned by institutional investors.

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.