Equities analysts forecast that Sonic Automotive, Inc. (NYSE:SAH) will post $2.56 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Sonic Automotive’s earnings, with the highest sales estimate coming in at $2.58 billion and the lowest estimate coming in at $2.53 billion. Sonic Automotive also posted sales of $2.56 billion in the same quarter last year. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, October 24th.
According to Zacks, analysts expect that Sonic Automotive will report full year sales of $2.56 billion for the current fiscal year, with estimates ranging from $9.82 billion to $9.92 billion. For the next year, analysts expect that the company will report sales of $9.90 billion per share, with estimates ranging from $9.78 billion to $10.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Sonic Automotive.
Sonic Automotive (NYSE:SAH) last announced its earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.06). Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company earned $0.50 EPS. Sonic Automotive’s revenue for the quarter was up 1.0% compared to the same quarter last year.
A number of equities analysts have issued reports on the stock. BidaskClub cut shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. Finally, Jefferies Group LLC restated a “hold” rating and issued a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.75.
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Several hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Sonic Automotive by 20.4% during the 1st quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock valued at $100,000 after purchasing an additional 844 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Sonic Automotive by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after purchasing an additional 2,263 shares in the last quarter. Mason Street Advisors LLC boosted its stake in shares of Sonic Automotive by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after purchasing an additional 405 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Sonic Automotive by 4.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after purchasing an additional 410 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Sonic Automotive by 48.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,359 shares of the company’s stock valued at $182,000 after purchasing an additional 3,068 shares in the last quarter. Hedge funds and other institutional investors own 63.74% of the company’s stock.
Shares of Sonic Automotive (NYSE:SAH) traded down 0.47% during mid-day trading on Monday, reaching $21.30. The company had a trading volume of 317,995 shares. The company has a market capitalization of $934.24 million, a price-to-earnings ratio of 14.33 and a beta of 1.51. Sonic Automotive has a 12 month low of $15.95 and a 12 month high of $27.45. The firm’s 50-day moving average is $18.66 and its 200 day moving average is $18.84.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, September 14th. Sonic Automotive’s payout ratio is 13.42%.
Sonic Automotive Company Profile
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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