Sonic Automotive Inc (NYSE:SAH) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.10 per share on Monday, July 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Thursday, June 13th.
Sonic Automotive has raised its dividend by an average of 32.0% per year over the last three years and has raised its dividend every year for the last 3 years. Sonic Automotive has a payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sonic Automotive to earn $2.14 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 18.7%.
SAH opened at $23.63 on Wednesday. The firm has a market cap of $932.25 million, a PE ratio of 13.35, a PEG ratio of 3.48 and a beta of 1.64. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 1.03. Sonic Automotive has a one year low of $12.78 and a one year high of $23.76.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, April 25th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.17. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.42 billion. Sonic Automotive had a net margin of 0.97% and a return on equity of 10.12%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the business earned $0.26 EPS. Sell-side analysts forecast that Sonic Automotive will post 2.07 EPS for the current fiscal year.
An institutional investor recently raised its position in Sonic Automotive stock. Geode Capital Management LLC boosted its holdings in Sonic Automotive Inc (NYSE:SAH) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 251,713 shares of the company’s stock after purchasing an additional 13,736 shares during the period. Geode Capital Management LLC owned approximately 0.59% of Sonic Automotive worth $3,463,000 at the end of the most recent reporting period. 60.76% of the stock is currently owned by institutional investors.
SAH has been the subject of a number of recent analyst reports. TheStreet upgraded shares of Sonic Automotive from a “c” rating to a “b” rating in a research report on Tuesday, May 28th. Bank of America upgraded shares of Sonic Automotive from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Friday, April 26th. ValuEngine upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Stephens upgraded shares of Sonic Automotive from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $30.00 in a research report on Wednesday, June 5th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Sonic Automotive presently has a consensus rating of “Hold” and a consensus price target of $20.33.
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Sonic Automotive Company Profile
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.
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