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Sonic Automotive (SAH) to Release Earnings on Thursday

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Sonic Automotive (NYSE:SAHGet Rating) will be announcing its earnings results before the market opens on Thursday, July 28th. Analysts expect the company to announce earnings of $2.53 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Sonic Automotive (NYSE:SAHGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.45 by ($0.12). The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.70 billion. Sonic Automotive had a net margin of 2.97% and a return on equity of 39.37%. Sonic Automotive’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. On average, analysts expect Sonic Automotive to post $10 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $39.18 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of 4.28 and a beta of 2.07. The firm has a fifty day moving average of $40.77 and a 200 day moving average of $45.20. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.46 and a current ratio of 1.10. Sonic Automotive has a one year low of $34.17 and a one year high of $58.00.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 14th. This represents a $1.00 annualized dividend and a yield of 2.55%. Sonic Automotive’s dividend payout ratio (DPR) is presently 10.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $51.00 to $47.00 in a research note on Friday, July 15th. Morgan Stanley lowered their target price on shares of Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating on the stock in a research note on Thursday, July 14th. Finally, Seaport Res Ptn cut shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a research note on Friday, April 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sonic Automotive by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,312,003 shares of the company’s stock valued at $98,283,000 after acquiring an additional 33,306 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Sonic Automotive by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 385,848 shares of the company’s stock valued at $16,403,000 after acquiring an additional 6,955 shares during the last quarter. Invesco Ltd. boosted its position in shares of Sonic Automotive by 21.2% during the 1st quarter. Invesco Ltd. now owns 333,343 shares of the company’s stock valued at $14,171,000 after acquiring an additional 58,218 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Sonic Automotive by 43.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 250,978 shares of the company’s stock valued at $10,669,000 after buying an additional 76,157 shares during the period. Finally, Bank of America Corp DE raised its holdings in Sonic Automotive by 4.0% in the 1st quarter. Bank of America Corp DE now owns 118,583 shares of the company’s stock valued at $5,041,000 after buying an additional 4,585 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Sonic Automotive

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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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Earnings History for Sonic Automotive (NYSE:SAH)



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