Sonic Automotive, Inc. (NYSE:SAH) – Analysts at Jefferies Group reduced their Q3 2017 EPS estimates for Sonic Automotive in a note issued to investors on Monday. Jefferies Group analyst B. Jordan now anticipates that the company will post earnings of $0.56 per share for the quarter, down from their previous estimate of $0.58. Jefferies Group currently has a “Hold” rating and a $22.00 target price on the stock. Jefferies Group also issued estimates for Sonic Automotive’s Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $1.90 EPS, Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.09 EPS.
Several other research firms also recently commented on SAH. BidaskClub downgraded shares of Sonic Automotive from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley lowered their price target on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, June 9th. ValuEngine lowered shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, TheStreet lowered shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Sonic Automotive has a consensus rating of “Hold” and a consensus price target of $21.75.
Sonic Automotive (NYSE SAH) opened at 18.15 on Tuesday. The firm’s 50-day moving average price is $18.93 and its 200 day moving average price is $20.29. The company has a market capitalization of $816.59 million, a price-to-earnings ratio of 12.21 and a beta of 1.53. Sonic Automotive has a one year low of $16.53 and a one year high of $27.45.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Friday, July 28th. The company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.15%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share.
A number of institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Sonic Automotive by 20.4% in the first quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock worth $100,000 after buying an additional 844 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Sonic Automotive by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after buying an additional 2,263 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after buying an additional 405 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after buying an additional 410 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Sonic Automotive during the first quarter valued at $211,000. Institutional investors own 63.23% of the company’s stock.
In other Sonic Automotive news, insider O Bruton Smith purchased 19,273 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $357,514.15. Following the completion of the transaction, the insider now owns 676,609 shares of the company’s stock, valued at approximately $12,551,096.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 30.29% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.10%. Sonic Automotive’s dividend payout ratio is currently 13.42%.
Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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