Sonic Automotive, Inc. (NYSE:SAH) Plans Quarterly Dividend of $0.35

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, March 14th.

Sonic Automotive has increased its dividend payment by an average of 39.6% per year over the last three years. Sonic Automotive has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $7.51 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 18.6%.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $65.45 on Wednesday. The business has a 50 day moving average of $69.35 and a 200-day moving average of $63.96. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. Sonic Automotive has a 1 year low of $47.82 and a 1 year high of $76.78. The company has a market capitalization of $2.21 billion, a P/E ratio of 10.59 and a beta of 1.70.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, equities research analysts predict that Sonic Automotive will post 6.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on SAH. Needham & Company LLC increased their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upped their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, Stephens lifted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.20.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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.