Shares of Sonic Automotive, Inc. (NYSE:SAH – Get Rating) have been assigned a consensus recommendation of “Hold” from the four ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $48.50.
Several research analysts have recently commented on SAH shares. Morgan Stanley lowered their price target on Sonic Automotive from $43.00 to $40.00 in a research report on Friday, May 20th. JPMorgan Chase & Co. downgraded Sonic Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $70.00 to $57.00 in a research report on Thursday, April 7th. Seaport Res Ptn cut shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Friday.
Shares of Sonic Automotive stock opened at $36.53 on Friday. The firm has a market cap of $1.45 billion, a PE ratio of 3.99 and a beta of 2.05. Sonic Automotive has a 52 week low of $34.28 and a 52 week high of $58.00. The business’s fifty-day simple moving average is $44.11 and its 200-day simple moving average is $46.98. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.45.
Sonic Automotive (NYSE:SAH – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.12). The company had revenue of $3.59 billion during 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 was up 28.7% on a year-over-year basis. During the same period last year, the firm posted $1.23 earnings per share. As a group, equity analysts expect that Sonic Automotive will post 10.13 earnings per share for the current year.
The business also recently declared 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 2.74%. Sonic Automotive’s dividend payout ratio (DPR) is 10.92%.
In other news, major shareholder Paul P. Rusnak bought 127,475 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, April 6th. The shares were purchased 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 in the company, valued at $209,450,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 36.07% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SAH. Point72 Hong Kong Ltd acquired a new position in shares of Sonic Automotive during the 1st quarter worth about $26,000. Counterpoint Mutual Funds LLC acquired a new position in Sonic Automotive in the fourth quarter valued at approximately $27,000. Dark Forest Capital Management LP purchased a new position in Sonic Automotive in the third quarter valued at approximately $38,000. Pinebridge Investments LP acquired a new stake in Sonic Automotive during the fourth quarter worth approximately $45,000. Finally, Penserra Capital Management LLC purchased a new stake in shares of Sonic Automotive during the 3rd quarter worth approximately $84,000. Institutional investors own 59.34% of the company’s stock.
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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