BidaskClub cut shares of Sonic Automotive, Inc. (NYSE:SAH) from a hold rating to a sell rating in a report issued on Friday, July 28th.
SAH has been the topic of a number of other research reports. Jefferies Group LLC reiterated a hold rating and issued a $22.00 price objective on shares of Sonic Automotive in a research note on Wednesday, May 3rd. TheStreet lowered shares of Sonic Automotive from a b rating to a c+ rating in a research report on Tuesday, May 30th. Morgan Stanley dropped their price target on shares of Sonic Automotive from $25.00 to $23.00 and set an overweight rating on the stock in a research report on Friday, June 9th. Finally, ValuEngine downgraded shares of Sonic Automotive from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $21.75.
Shares of Sonic Automotive (SAH) opened at 16.75 on Friday. Sonic Automotive has a 12-month low of $16.45 and a 12-month high of $27.45. The firm has a market capitalization of $734.67 million, a PE ratio of 11.27 and a beta of 1.51. The company’s 50-day moving average price is $18.37 and its 200 day moving average price is $19.79.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. On average, equities analysts forecast that Sonic Automotive will post $1.86 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, September 14th. Sonic Automotive’s dividend payout ratio is presently 13.42%.
Several large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of Sonic Automotive by 20.4% in the first quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock worth $100,000 after buying an additional 844 shares during the period. State of Alaska Department of Revenue boosted its position in Sonic Automotive by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after buying an additional 2,263 shares during the period. Mason Street Advisors LLC boosted its position in Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after buying an additional 405 shares during the period. Public Employees Retirement System of Ohio boosted its position in Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after buying an additional 410 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Sonic Automotive by 48.8% in the second quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after buying an additional 3,068 shares during the period. Institutional investors and hedge funds own 64.64% of the company’s stock.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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