Brokerages expect Sonic Automotive, Inc. (NYSE:SAH – Get Rating) to post $3.99 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Sonic Automotive’s earnings. The highest sales estimate is $4.39 billion and the lowest is $3.84 billion. Sonic Automotive posted sales of $3.35 billion in the same quarter last year, which suggests a positive year over year growth rate of 19.1%. The firm is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Sonic Automotive will report full year sales of $16.37 billion for the current year, with estimates ranging from $15.76 billion to $17.38 billion. For the next year, analysts anticipate that the business will report sales of $17.29 billion, with estimates ranging from $15.13 billion to $19.59 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Sonic Automotive.
Sonic Automotive (NYSE:SAH – Get Rating) last released its earnings results on Thursday, April 28th. The company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.12). Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm posted $1.23 EPS. Sonic Automotive’s revenue was up 28.7% on a year-over-year basis.
A number of research firms have commented on SAH. JPMorgan Chase & Co. lowered shares of Sonic Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $70.00 to $57.00 in a report on Thursday, April 7th. Seaport Res Ptn lowered shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Friday, April 29th. Morgan Stanley boosted their price target on shares of Sonic Automotive from $40.00 to $43.00 and gave the company an “underweight” rating in a report on Tuesday, March 8th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research lowered shares of Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 price target for the company. in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.67.
SAH opened at $47.11 on Friday. The company has a fifty day moving average price of $45.19 and a two-hundred day moving average price of $47.95. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.46 and a current ratio of 1.10. Sonic Automotive has a 52 week low of $38.64 and a 52 week high of $58.00. The firm has a market capitalization of $1.86 billion, a PE ratio of 5.14 and a beta of 2.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be given a $0.25 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.00 annualized dividend and a yield of 2.12%. Sonic Automotive’s dividend payout ratio is currently 10.92%.
In related news, major shareholder Paul P. Rusnak acquired 127,475 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The shares were acquired at an average cost of $41.89 per share, with a total value of $5,339,927.75. Following the transaction, the insider now owns 5,000,000 shares of the company’s stock, valued at approximately $209,450,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jeff Dyke sold 2,769 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $52.00, for a total transaction of $143,988.00. The disclosure for this sale can be found here. Insiders own 36.07% of the company’s stock.
Large investors have recently modified their holdings of the business. Capital Investment Advisory Services LLC increased its stake in shares of Sonic Automotive by 4.7% during the 4th quarter. Capital Investment Advisory Services LLC now owns 4,482 shares of the shares company’s stock worth $222,000 after purchasing an additional 200 during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Sonic Automotive by 1.4% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,000 shares of the company’s stock worth $765,000 after purchasing an additional 250 during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Sonic Automotive by 1.7% during the 1st quarter. Great West Life Assurance Co. Can now owns 19,013 shares of the company’s stock worth $830,000 after purchasing an additional 326 during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Sonic Automotive by 1.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 33,525 shares of the company’s stock worth $1,425,000 after purchasing an additional 370 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Sonic Automotive by 0.7% during the 1st quarter. Rhumbline Advisers now owns 74,358 shares of the company’s stock worth $3,161,000 after purchasing an additional 502 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.
Sonic Automotive Company Profile (Get Rating)
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 for its guests.
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