Sonic Automotive Inc (SAH) Expected to Announce Quarterly Sales of $2.44 Billion

Equities analysts expect that Sonic Automotive Inc (NYSE:SAH) will announce sales of $2.44 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sonic Automotive’s earnings. The lowest sales estimate is $2.43 billion and the highest is $2.44 billion. Sonic Automotive reported sales of $2.38 billion in the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The business is scheduled to issue its next earnings report on Tuesday, July 25th.

According to Zacks, analysts expect that Sonic Automotive will report full year sales of $2.44 billion for the current fiscal year, with estimates ranging from $9.84 billion to $10.25 billion. For the next financial year, analysts expect that the firm will post sales of $10.21 billion per share, with estimates ranging from $9.87 billion to $10.55 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, April 26th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Sonic Automotive had a net margin of 0.90% and a return on equity of 13.54%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue was up 2.4% compared to the same quarter last year.

Several research firms have recently weighed in on SAH. Bank of America Corp cut Sonic Automotive from a “buy” rating to a “neutral” rating and set a $26.00 price target on the stock. in a report on Thursday, February 23rd. Jefferies Group LLC restated a “neutral” rating on shares of Sonic Automotive in a report on Friday, February 24th. ValuEngine cut Sonic Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley restated an “overweight” rating and set a $23.00 price target (down from $25.00) on shares of Sonic Automotive in a report on Friday. Finally, TheStreet cut Sonic Automotive from a “b” rating to a “c+” rating in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $23.67.

In related news, Director R Eugene Taylor acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The shares were bought at an average cost of $20.51 per share, with a total value of $102,550.00. Following the completion of the purchase, the director now directly owns 12,242 shares in the company, valued at $251,083.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider O Bruton Smith acquired 19,273 shares of the business’s stock in a transaction that occurred on 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 purchase, the insider now owns 676,609 shares of the company’s stock, valued at $12,551,096.95. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 124,273 shares of company stock worth $2,474,064. Company insiders own 29.32% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. RidgeWorth Capital Management LLC raised its position 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 in the last quarter. Sanders Morris Harris Inc. bought a new position in Sonic Automotive during the first quarter worth approximately $1,491,000. Thrivent Financial for Lutherans raised its position in Sonic Automotive by 4.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,240 shares of the company’s stock worth $326,000 after buying an additional 570 shares in the last quarter. Guggenheim Capital LLC raised its position in Sonic Automotive by 124.7% in the fourth quarter. Guggenheim Capital LLC now owns 158,174 shares of the company’s stock worth $3,622,000 after buying an additional 87,765 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position 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 worth $215,000 after buying an additional 100 shares in the last quarter. 65.90% of the stock is currently owned by institutional investors.

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Sonic Automotive (NYSE:SAH) traded up 3.01% on Wednesday, reaching $18.85. 145,048 shares of the company’s stock were exchanged. The company has a market cap of $848.08 million, a price-to-earnings ratio of 10.95 and a beta of 1.58. The stock’s 50 day moving average is $19.07 and its 200 day moving average is $21.22. Sonic Automotive has a 52 week low of $16.08 and a 52 week high of $27.45.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, June 13th. Sonic Automotive’s dividend payout ratio (DPR) is currently 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. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SAH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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