Media headlines about Sonic (NASDAQ:SONC) have been trending somewhat positive recently, Accern Sentiment reports. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sonic earned a coverage optimism score of 0.17 on Accern’s scale. Accern also assigned news articles about the restaurant operator an impact score of 46.5704512632135 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment Analysis’s analysis:
Sonic (SONC) traded down $0.53 during trading on Friday, hitting $26.34. The stock had a trading volume of 854,370 shares, compared to its average volume of 949,887. Sonic has a one year low of $22.11 and a one year high of $30.05. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.48. The firm has a market capitalization of $1,012.98, a P/E ratio of 17.80, a P/E/G ratio of 1.18 and a beta of 1.74.
Sonic (NASDAQ:SONC) last released its quarterly earnings data on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. The company had revenue of $105.40 million during the quarter, compared to the consensus estimate of $106.86 million. During the same quarter in the prior year, the firm posted $0.24 earnings per share. The firm’s revenue was down 18.7% compared to the same quarter last year. equities research analysts predict that Sonic will post 1.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, February 7th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.43%. Sonic’s dividend payout ratio is currently 43.24%.
Sonic declared that its board has initiated a stock buyback plan on Thursday, October 26th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 14.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts have commented on SONC shares. Zacks Investment Research raised Sonic from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. Citigroup started coverage on Sonic in a research note on Monday, September 18th. They set a “buy” rating and a $28.00 target price for the company. Oppenheimer reissued a “buy” rating and set a $29.00 target price on shares of Sonic in a research note on Friday, October 6th. Guggenheim reissued a “buy” rating and set a $31.00 target price (up previously from $29.00) on shares of Sonic in a research note on Thursday, December 28th. Finally, Canaccord Genuity boosted their target price on Sonic from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $29.36.
In other news, VP Carolyn C. Cummins sold 2,347 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $25.43, for a total value of $59,684.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Federico F. Pena sold 9,209 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $25.22, for a total value of $232,250.98. The disclosure for this sale can be found here. Insiders sold 167,587 shares of company stock valued at $4,537,647 in the last ninety days. 6.24% of the stock is currently owned by insiders.
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Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.
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