Sonic Automotive Inc (SAH) Expected to Announce Earnings of $0.79 Per Share

Brokerages expect Sonic Automotive Inc (NYSE:SAH) to post $0.79 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sonic Automotive’s earnings. The lowest EPS estimate is $0.71 and the highest is $0.87. Sonic Automotive posted earnings of $0.66 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The company is expected to announce its next earnings results on Tuesday, February 20th.

On average, analysts expect that Sonic Automotive will report full-year earnings of $1.82 per share for the current financial year, with EPS estimates ranging from $1.74 to $1.90. For the next year, analysts forecast that the company will report earnings of $2.12 per share, with EPS estimates ranging from $1.91 to $2.33. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Sonic Automotive had a return on equity of 10.47% and a net margin of 0.70%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 earnings per share.

A number of research firms have recently weighed in on SAH. Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, October 18th. Bank of America raised Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price objective for the company in a research note on Monday, January 8th. Finally, ValuEngine raised Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Sonic Automotive presently has an average rating of “Hold” and an average target price of $22.75.

In other news, EVP Jeff Dyke sold 8,551 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the transaction, the executive vice president now owns 1,262,056 shares of the company’s stock, valued at $25,367,325.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 30.29% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of Sonic Automotive by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,854 shares of the company’s stock worth $114,000 after acquiring an additional 878 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Sonic Automotive by 48.8% during 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 last quarter. Public Employees Retirement System of Ohio boosted its stake in Sonic Automotive by 7.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after buying an additional 624 shares during the last quarter. Laurion Capital Management LP bought a new position in Sonic Automotive during the second quarter valued at approximately $203,000. Finally, Jane Street Group LLC bought a new position in Sonic Automotive during the third quarter valued at approximately $260,000. 64.40% of the stock is owned by hedge funds and other institutional investors.

Shares of Sonic Automotive (SAH) traded up $0.25 on Wednesday, reaching $22.45. The company’s stock had a trading volume of 161,454 shares, compared to its average volume of 313,508. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The stock has a market capitalization of $958.93, a PE ratio of 14.67, a price-to-earnings-growth ratio of 3.50 and a beta of 1.57. Sonic Automotive has a fifty-two week low of $15.95 and a fifty-two week high of $27.45.

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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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