Sonic Automotive, Inc. (NYSE:SAH) Expected to Post Earnings of $2.53 Per Share

Analysts expect Sonic Automotive, Inc. (NYSE:SAH – Get Rating) to announce earnings of $2.53 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Sonic Automotive’s earnings, with the lowest EPS estimate coming in at $2.34 and the highest estimate coming in at $2.60. Sonic Automotive posted earnings of $2.63 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The business is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Sonic Automotive will report full year earnings of $10.19 per share for the current financial year, with EPS estimates ranging from $9.75 to $10.75. For the next financial year, analysts forecast that the firm will report earnings of $8.89 per share, with EPS estimates ranging from $7.58 to $9.65. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.12). The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. Sonic Automotive’s revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 earnings per share.

A number of analysts recently weighed in on SAH shares. Morgan Stanley reduced their price objective on shares of Sonic Automotive from $43.00 to $40.00 in a research report on Friday, May 20th. JPMorgan Chase & Co. cut shares of Sonic Automotive from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $57.00 in a report on Thursday, April 7th. StockNews.com lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Seaport Res Ptn lowered shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Finally, Zacks Investment Research downgraded shares of Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research note on Thursday, March 10th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $49.67.

In related news, major shareholder Paul P. Rusnak acquired 127,475 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, April 6th. The stock was acquired at an average price of $41.89 per share, with a total value of $5,339,927.75. Following the completion of the acquisition, the insider now directly owns 5,000,000 shares of the company’s stock, valued at approximately $209,450,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Jeff Dyke sold 2,769 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $52.00, for a total transaction of $143,988.00. The disclosure for this sale can be found here. 36.07% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new stake in shares of Sonic Automotive during the first quarter worth $26,000. Counterpoint Mutual Funds LLC bought a new position in shares of Sonic Automotive in the 4th quarter valued at about $27,000. Dark Forest Capital Management LP bought a new position in shares of Sonic Automotive in the 3rd quarter valued at about $38,000. Pinebridge Investments L.P. acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $45,000. Finally, Penserra Capital Management LLC acquired a new stake in Sonic Automotive in the 3rd quarter worth about $84,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Sonic Automotive stock traded down $0.24 during mid-day trading on Friday, hitting $45.30. The stock had a trading volume of 266,175 shares, compared to its average volume of 373,388. The firm has a market capitalization of $1.79 billion, a P/E ratio of 4.95 and a beta of 2.05. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.45. The firm’s 50 day moving average is $44.42 and its 200 day moving average is $47.38. Sonic Automotive has a one year low of $38.64 and a one year high of $58.00.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.00 annualized dividend and a yield of 2.21%. Sonic Automotive’s dividend payout ratio (DPR) is currently 10.92%.

Sonic Automotive Company Profile (Get Rating)

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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