Sonic Automotive Inc (NYSE:SAH) has received an average rating of “Sell” from the seven research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $17.00.
A number of analysts have recently issued reports on SAH shares. Zacks Investment Research downgraded shares of Sonic Automotive from a “hold” rating to a “sell” rating in a report on Thursday, January 3rd. ValuEngine downgraded shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 21st. TheStreet downgraded shares of Sonic Automotive from a “b-” rating to a “c+” rating in a report on Tuesday, November 20th. Finally, JPMorgan Chase & Co. started coverage on shares of Sonic Automotive in a report on Tuesday, February 19th. They set an “underweight” rating and a $14.00 price objective for the company.
A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Sonic Automotive by 4.7% in the fourth quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after purchasing an additional 189,881 shares during the last quarter. Vanguard Group Inc lifted its stake in Sonic Automotive by 1.9% in the third quarter. Vanguard Group Inc now owns 2,338,677 shares of the company’s stock worth $45,253,000 after purchasing an additional 44,150 shares during the last quarter. Vanguard Group Inc. lifted its stake in Sonic Automotive by 1.9% in the third quarter. Vanguard Group Inc. now owns 2,338,677 shares of the company’s stock worth $45,253,000 after purchasing an additional 44,150 shares during the last quarter. Prudential Financial Inc. lifted its stake in Sonic Automotive by 4.4% in the fourth quarter. Prudential Financial Inc. now owns 686,260 shares of the company’s stock worth $9,443,000 after purchasing an additional 28,633 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Sonic Automotive by 15.4% in the fourth quarter. Bank of New York Mellon Corp now owns 481,974 shares of the company’s stock worth $6,632,000 after purchasing an additional 64,186 shares during the last quarter. 60.38% of the stock is owned by institutional investors and hedge funds.
NYSE SAH opened at $14.50 on Friday. Sonic Automotive has a 52-week low of $12.78 and a 52-week high of $23.60. The company has a quick ratio of 0.24, a current ratio of 1.02 and a debt-to-equity ratio of 1.12. The firm has a market cap of $622.63 million, a PE ratio of 8.19, a P/E/G ratio of 1.33 and a beta of 1.47.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 20th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.17). Sonic Automotive had a return on equity of 9.66% and a net margin of 0.52%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $0.84 earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, equities analysts expect that Sonic Automotive will post 1.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.06. This represents a $0.40 annualized dividend and a yield of 2.76%. Sonic Automotive’s payout ratio is currently 22.60%.
About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.
Further Reading: Debt-To-Equity Ratio
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