Shares of Sonic Automotive Inc (NYSE:SAH) have been given an average rating of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.25.
Several research analysts have recently weighed in on SAH shares. ValuEngine upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a report on Tuesday, January 9th. Bank of America upgraded Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a report on Monday, January 8th. Finally, Morgan Stanley boosted their target price on Sonic Automotive from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 14th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAH. Voya Investment Management LLC lifted its holdings in Sonic Automotive by 14.1% in the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock valued at $282,000 after acquiring an additional 1,790 shares during the last quarter. State Street Corp lifted its holdings in Sonic Automotive by 2.0% in the second quarter. State Street Corp now owns 839,717 shares of the company’s stock valued at $16,336,000 after acquiring an additional 16,540 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Sonic Automotive by 7.0% in the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock valued at $185,000 after acquiring an additional 624 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in Sonic Automotive by 6.7% in the third quarter. Nationwide Fund Advisors now owns 73,488 shares of the company’s stock valued at $1,499,000 after acquiring an additional 4,605 shares during the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new position in Sonic Automotive in the third quarter valued at approximately $351,000. Hedge funds and other institutional investors own 64.16% of the company’s stock.
Shares of Sonic Automotive (NYSE:SAH) traded up $0.15 during trading on Wednesday, hitting $19.85. The stock had a trading volume of 227,708 shares, compared to its average volume of 304,395. The firm has a market cap of $835.54, a PE ratio of 10.53, a P/E/G ratio of 2.88 and a beta of 1.60. Sonic Automotive has a fifty-two week low of $15.95 and a fifty-two week high of $22.75. The company has a current ratio of 1.03, a quick ratio of 0.26 and a debt-to-equity ratio of 1.22.
Sonic Automotive (NYSE:SAH) last issued its earnings results on Tuesday, February 27th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.63 billion. Sonic Automotive had a return on equity of 11.17% and a net margin of 0.94%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS. research analysts forecast that Sonic Automotive will post 2.28 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 15th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 1.21%. Sonic Automotive’s dividend payout ratio is currently 11.32%.
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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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