Sonic Automotive, Inc. (NYSE:SAH) Expected to Announce Earnings of $2.57 Per Share

Wall Street brokerages expect Sonic Automotive, Inc. (NYSE:SAH – Get Rating) to report $2.57 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Sonic Automotive’s, with the highest EPS coming in earnings at $2.77 and the lowest estimate coming in at $2.34. Sonic Automotive posted earnings of $2.63 per share in the same quarter last year, which suggests a negative year over year growth rate of 2.3%. The business is scheduled to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Sonic Automotive will report full year earnings of $10.31 per share for the current year, with EPS estimates ranging from $9.75 to $10.81. For the next financial year, analysts forecast that the business will post of $9.02 per share, earnings with EPS estimates ranging from $8.23 to $9.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Sonic Automotive.

Sonic Automotive (NYSE:SAH – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.12). The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.70 billion. Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. Sonic Automotive’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 earnings per share.

SAH has been the topic of several recent analyst reports. Morgan Stanley raised their objective price on Sonic Automotive from $40.00 to $43.00 and gave the company an “underweight” rating in a research note on Tuesday, March 8th. Zacks Investment Research cut 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 research note on Thursday, March 10th. Seaport Res Ptn cut shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a research note on Friday, April 29th. JPMorgan Chase & Co. lowered shares of Sonic Automotive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $57.00 in a report on Thursday, April 7th. Finally, StockNews.com upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.67.

In related news, major shareholder Paul P. Rusnak acquired 127,475 shares of the stock in a transaction on Wednesday, April 6th. The shares were acquired at an average price of $41.89 per share, for a total transaction of $5,339,927.75. Following the transaction, the insider now owns 5,000,000 shares in the company, valued at approximately $209,450,000. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, President Jeff Dyke sold 6,395 shares of the stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $52.37, for a total value of $334,906.15. The disclosure for this sale can be found here. Insiders own 36.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC lifted its position in shares of Sonic Automotive by 81.3% during the fourth quarter. Wolverine Asset Management LLC now owns 27,975 shares of the company’s stock worth $1,383,000 after purchasing an additional 12,545 shares in the last quarter. NorthCrest Asset Manangement LLC purchased a new position in shares of Sonic Automotive during the fourth quarter worth approximately $878,000. Janney Montgomery Scott LLC purchased a new position in shares of Sonic Automotive during the fourth quarter is worth approximately $213,000. Russell Investments Group Ltd. Its position grew in shares of Sonic Automotive by 17.1% during the fourth quarter. Russell Investments Group Ltd. now owns 43,149 shares of the company’s stock worth $2,132,000 shares after acquiring an additional 6,295 during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Sonic Automotive by 67.7% during the third quarter. Two Sigma Investments LP now owns 98,015 shares of the company’s stock worth $5,150,000 after purchasing an additional 39,563 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Shares of Sonic Automotive stock traded up $1.83 on Friday, reaching $47.11. 323,714 shares of the company’s stock were exchanged, compared to its average volume of 381,777. The company has a market capitalization of $1.86 billion, a P/E ratio of 5.14 and a beta of 2.05. Sonic Automotive has a 52 week low of $38.64 and a 52 week high of $58.00. The firm’s 50-day moving average is $45.19 and its two-hundred day moving average is $47.96. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.46 and a current ratio of 1.10.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.00 dividend on an annual basis and a yield of 2.12%. Sonic Automotive’s dividend payout ratio is presently 10.92%.

About Sonic Automotive (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.

See Also

Get a free copy of the Zacks research report on Sonic Automotive (SAH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in Sonic Automotive right now?

Before you consider Sonic Automotive, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Sonic Automotive wasn’t on the list.

While Sonic Automotive currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

.

Leave a Reply

Your email address will not be published.