Sonic Automotive, Inc. (NYSE:SAH - Get Rating) has been assigned a consensus recommendation of "Hold" from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $52.33.
SAH has been the topic of several research analyst reports. Bank of America lowered Sonic Automotive from a "buy" rating to an "underperform" rating in a research report on Friday, September 9th. StockNews.com initiated coverage on Sonic Automotive in a research report on Wednesday, October 12th. They set a "hold" rating on the stock. Morgan Stanley increased their price target on Sonic Automotive from $33.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, September 1st. JPMorgan Chase & Co. upgraded Sonic Automotive from a "neutral" rating to an "overweight" rating and set a $60.00 price target on the stock in a report on Thursday, October 6th. Finally, Benchmark cut their price target on Sonic Automotive from $71.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, October 31st.
Sonic Automotive Trading Down 0.5 %
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Shares of SAH stock opened at $51.36 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 5.61 and a beta of 1.90. The stock has a 50-day moving average of $47.83 and a 200-day moving average of $45.42. The company has a current ratio of 1.02, a quick ratio of 0.33 and a debt-to-equity ratio of 1.51. Sonic Automotive has a 1-year low of $34.17 and a 1-year high of $59.19.
Sonic Automotive (NYSE:SAH - Get Rating) last announced its earnings results on Thursday, October 27th. The company reported $2.23 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.27). Sonic Automotive had a net margin of 2.71% and a return on equity of 35.42%. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the company earned $1.96 EPS. The firm's revenue for the quarter was up 12.2% on a year-over-year basis. On average, equities research analysts forecast that Sonic Automotive will post 9.34 earnings per share for the current year.
Sonic Automotive Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Thursday, December 15th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, December 14th. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.25. Sonic Automotive's dividend payout ratio (DPR) is currently 10.93%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of SAH. Commonwealth Equity Services LLC bought a new position in shares of Sonic Automotive in the first quarter valued at approximately $319,000. Victory Capital Management Inc. increased its position in shares of Sonic Automotive by 89.4% during the first quarter. Victory Capital Management Inc. now owns 15,884 shares of the company's stock valued at $676,000 after acquiring an additional 7,499 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Sonic Automotive by 31.2% during the first quarter. New York State Common Retirement Fund now owns 20,699 shares of the company's stock valued at $880,000 after acquiring an additional 4,921 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Sonic Automotive by 429.5% during the first quarter. Qube Research & Technologies Ltd now owns 27,827 shares of the company's stock valued at $1,183,000 after acquiring an additional 22,572 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Sonic Automotive by 6.1% during the first quarter. Swiss National Bank now owns 51,900 shares of the company's stock valued at $2,206,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 57.10% of the company's stock.
Sonic Automotive Company Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.
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