Wall Street brokerages expect that Sonic Automotive, Inc. (NYSE:SAH) will report $0.48 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sonic Automotive’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.51. Sonic Automotive reported earnings per share of $0.50 in the same quarter last year, which would indicate a negative year-over-year growth rate of 4%. The business is scheduled to announce its next earnings results before the market opens on Friday, July 28th.
On average, analysts expect that Sonic Automotive will report full-year earnings of $1.98 per share for the current financial year, with EPS estimates ranging from $1.92 to $2.04. For the next financial year, analysts anticipate that the business will post earnings of $2.08 per share, with EPS estimates ranging from $1.80 to $2.26. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Sonic Automotive.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, April 26th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.29 billion. Sonic Automotive had a return on equity of 12.03% and a net margin of 0.80%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS.
A number of equities analysts have recently issued reports on the company. Jefferies Group LLC restated a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, July 19th. ValuEngine downgraded Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley lowered their price objective on Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, TheStreet downgraded Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.75.
Sonic Automotive (SAH) opened at 19.00 on Tuesday. Sonic Automotive has a 52-week low of $16.53 and a 52-week high of $27.45. The firm has a market capitalization of $854.83 million, a price-to-earnings ratio of 11.03 and a beta of 1.53. The stock’s 50 day moving average price is $18.92 and its 200 day moving average price is $20.45.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.05%. Sonic Automotive’s dividend payout ratio (DPR) is 11.63%.
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In related news, insider O Bruton Smith acquired 19,273 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was bought 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 directly owns 676,609 shares of the company’s stock, valued at $12,551,096.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 30.29% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in Sonic Automotive by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock valued at $215,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its stake in Sonic Automotive by 1.5% in the first quarter. Arizona State Retirement System now owns 13,705 shares of the company’s stock valued at $275,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Sonic Automotive by 1.4% in the second quarter. Capstone Asset Management Co. now owns 16,133 shares of the company’s stock valued at $314,000 after buying an additional 230 shares in the last quarter. Mason Street Advisors LLC boosted its stake in 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 in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in 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 in the last quarter. Institutional investors own 63.21% of the company’s stock.
About Sonic Automotive
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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