Sinclair (NASDAQ:SBGI) Price Target Lowered to $17.00 at Wells Fargo & Company

Sinclair (NASDAQ:SBGI) had its price target reduced by Wells Fargo & Company from $19.00 to $17.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms also recently issued reports on SBGI. Guggenheim boosted their price objective on Sinclair from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of Sinclair in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price objective on Sinclair from $14.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Finally, StockNews.com upgraded Sinclair from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.70.

Sinclair Price Performance

NASDAQ:SBGI opened at $13.87 on Thursday. Sinclair has a 52 week low of $11.13 and a 52 week 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 capitalization of $921.26 million, a P/E ratio of -4.20 and a beta of 1.55. The stock’s fifty day moving average is $15.25 and its two-hundred day moving average is $15.57.

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

Sinclair Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.00 annualized dividend and a yield of 7.21%. Sinclair’s dividend payout ratio (DPR) is -30.30%.

Institutional Investors Weigh In On Sinclair

Several large investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Sinclair by 19.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 86,580 shares of the company’s stock worth $1,397,000 after purchasing an additional 14,344 shares during the period. Point72 Asset Management L.P. increased its holdings in Sinclair by 52.9% during the 4th quarter. Point72 Asset Management L.P. now owns 210,939 shares of the company’s stock worth $3,405,000 after purchasing an additional 73,006 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Sinclair by 4.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,302 shares of the company’s stock worth $295,000 after acquiring an additional 760 shares in the last quarter. Empyrean Capital Partners LP boosted its position in shares of Sinclair by 8.0% during the 4th quarter. Empyrean Capital Partners LP now owns 1,144,493 shares of the company’s stock worth $18,472,000 after acquiring an additional 84,493 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of Sinclair during the 4th quarter worth about $395,000. Hedge funds and other institutional investors 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.