Sinclair (SBGI) Scheduled to Post Quarterly Earnings on Wednesday

Sinclair (NASDAQ:SBGI) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.19) per share for the quarter. Sinclair has set its Q1 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Sinclair (NASDAQ:SBGI) last released its earnings results on Wednesday, February 28th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.35. Sinclair had a negative net margin of 9.29% and a positive return on equity of 26.46%. The business had revenue of $826.00 million during the quarter, compared to analysts’ expectations of $838.75 million. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was down 14.0% on a year-over-year basis. On average, analysts expect Sinclair to post $2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sinclair Stock Up 2.5 %

NASDAQ SBGI opened at $13.54 on Tuesday. The stock has a market cap of $861.14 million, a PE ratio of -2.80, a PEG ratio of 0.32 and a beta of 1.38. The company has a debt-to-equity ratio of 18.73, a quick ratio of 1.34 and a current ratio of 1.34. Sinclair has a twelve month low of $9.39 and a twelve month high of $17.58. The firm has a 50-day simple moving average of $12.79 and a 200 day simple moving average of $13.45.

Sinclair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date was Friday, March 8th. Sinclair’s dividend payout ratio is -20.70%.

Wall Street Analyst Weigh In

SBGI has been the subject of a number of analyst reports. Rosenblatt Securities raised their price target on shares of Sinclair from $10.40 to $15.70 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. StockNews.com cut shares of Sinclair from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Wells Fargo & Company raised their price target on shares of Sinclair from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.14.

Insider Buying and Selling at Sinclair

In other Sinclair news, Director Daniel C. Keith sold 30,086 shares of Sinclair stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.58, for a total value of $408,567.88. Following the sale, the director now directly owns 30,000 shares in the company, valued at approximately $407,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Sinclair news, CAO David R. Bochenek sold 20,803 shares of Sinclair stock in a transaction on Monday, March 11th. The shares were sold at an average price of $13.44, for a total value of $279,592.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Daniel C. Keith sold 30,086 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.58, for a total transaction of $408,567.88. Following the transaction, the director now owns 30,000 shares in the company, valued at $407,400. The disclosure for this sale can be found here. Company insiders own 41.70% 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.