Sinclair, Inc. (NASDAQ:SBGI) Announces $0.25 Quarterly Dividend

Sinclair, Inc. (NASDAQ:SBGI) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Monday, March 10th will be given a dividend of 0.25 per share on Monday, March 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.92%.

Sinclair has increased its dividend by an average of 7.7% annually over the last three years. Sinclair has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. 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

Sinclair stock opened at $14.45 on Thursday. The company’s 50-day moving average price is $15.30 and its 200-day moving average price is $15.58. Sinclair has a twelve month low of $11.13 and a twelve month high of $18.45. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 11.73. The company has a market cap of $959.78 million, a PE ratio of -4.38 and a beta of 1.55.

Sinclair (NASDAQ:SBGI) last posted its earnings results on Wednesday, February 26th. The company reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.62. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. Sinclair had a negative net margin of 6.14% and a positive return on equity of 63.89%. On average, equities research analysts forecast that Sinclair will post 4.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $30.00 price target on shares of Sinclair in a report on Tuesday, January 28th. Guggenheim upped their price target on shares of Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company cut their price target on shares of Sinclair from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, StockNews.com raised shares of Sinclair from a “hold” rating to a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sinclair currently has an average rating of “Hold” and a consensus price target of $19.70.

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.