Sinclair (NASDAQ:SBGI) PT Raised to $30.00

Sinclair (NASDAQ:SBGI) had its price objective lifted by research analysts at Benchmark from $29.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective indicates a potential upside of 103.11% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. StockNews.com downgraded Sinclair from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Rosenblatt Securities increased their price target on Sinclair from $16.40 to $16.50 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Sinclair has a consensus rating of “Hold” and a consensus target price of $19.88.

Sinclair Trading Up 2.7 %

NASDAQ SBGI opened at $14.77 on Monday. The stock has a 50-day simple moving average of $13.86 and a 200 day simple moving average of $13.24. The company has a market capitalization of $977.45 million, a PE ratio of -2.07, a P/E/G ratio of 0.12 and a beta of 1.54. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 14.93. Sinclair has a 12 month low of $9.39 and a 12 month high of $17.58.

Sinclair (NASDAQ:SBGI) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $836.65 million. Sinclair had a positive return on equity of 22.55% and a negative net margin of 10.78%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.09) earnings per share. Research analysts forecast that Sinclair will post 4.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC grew its holdings in shares of Sinclair by 37.2% during the first quarter. EntryPoint Capital LLC now owns 4,001 shares of the company’s stock worth $54,000 after buying an additional 1,085 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sinclair by 29.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,330 shares of the company’s stock valued at $111,000 after purchasing an additional 1,898 shares during the last quarter. Prospect Financial Services LLC boosted its position in Sinclair by 7.7% during the second quarter. Prospect Financial Services LLC now owns 28,000 shares of the company’s stock valued at $373,000 after purchasing an additional 2,000 shares during the last quarter. nVerses Capital LLC acquired a new position in Sinclair during the second quarter valued at approximately $28,000. Finally, Principal Financial Group Inc. boosted its position in Sinclair by 14.0% during the second quarter. Principal Financial Group Inc. now owns 23,248 shares of the company’s stock valued at $310,000 after purchasing an additional 2,847 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.