Sonic Automotive Inc (NYSE:SAH) – Equities researchers at Jefferies Group boosted their Q2 2017 earnings estimates for shares of Sonic Automotive in a research report issued on Monday. Jefferies Group analyst B. Jordan now forecasts that the firm will earn $0.49 per share for the quarter, up from their prior estimate of $0.48. Jefferies Group currently has a “Neutral” rating and a $22.00 target price on the stock.
SAH has been the subject of a number of other reports. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday, December 13th. CL King downgraded Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 10th. Finally, Bank of America Corp downgraded Sonic Automotive from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a research report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.
Shares of Sonic Automotive (NYSE:SAH) opened at 19.90 on Tuesday. The firm has a market capitalization of $893.21 million, a PE ratio of 9.80 and a beta of 1.58. Sonic Automotive has a 12 month low of $16.08 and a 12 month high of $27.45. The company has a 50 day moving average price of $21.96 and a 200-day moving average price of $20.94.
Sonic Automotive (NYSE:SAH) last announced its earnings results on Tuesday, February 21st. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The firm earned $2.56 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Sonic Automotive had a return on equity of 13.54% and a net margin of 0.90%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS.
A number of large investors have recently added to or reduced their stakes in the company. LSV Asset Management increased its stake in Sonic Automotive by 7.6% in the third quarter. LSV Asset Management now owns 1,488,897 shares of the company’s stock worth $27,991,000 after buying an additional 104,766 shares during the period. BlackRock Fund Advisors increased its stake in Sonic Automotive by 3.8% in the third quarter. BlackRock Fund Advisors now owns 1,922,937 shares of the company’s stock worth $36,151,000 after buying an additional 70,315 shares during the period. RidgeWorth Capital Management LLC increased its stake in Sonic Automotive by 8.2% in the fourth quarter. RidgeWorth Capital Management LLC now owns 1,833,108 shares of the company’s stock worth $42,067,000 after buying an additional 138,294 shares during the period. Towle & Co. increased its stake in Sonic Automotive by 27.5% in the third quarter. Towle & Co. now owns 865,560 shares of the company’s stock worth $16,273,000 after buying an additional 186,620 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in Sonic Automotive during the third quarter worth $7,761,000. Hedge funds and other institutional investors own 65.90% of the company’s stock.
In other news, insider O Bruton Smith bought 100,000 shares of the business’s stock in a transaction on Tuesday, March 21st. The stock was purchased at an average cost of $20.14 per share, for a total transaction of $2,014,000.00. Following the completion of the transaction, the insider now directly owns 578,494 shares of the company’s stock, valued at approximately $11,650,869.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R Eugene Taylor bought 5,000 shares of the business’s stock in a transaction on Monday, March 20th. The stock was purchased at an average price of $20.51 per share, with a total value of $102,550.00. Following the completion of the transaction, the director now directly owns 12,242 shares of the company’s stock, valued at $251,083.42. The disclosure for this purchase can be found here. Corporate insiders own 29.32% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be given a $0.05 dividend. The ex-dividend date is Monday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.01%. Sonic Automotive’s dividend payout ratio (DPR) is 10.93%.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.
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