Sonic Automotive (SAH) Set to Announce Earnings on Thursday

Sonic Automotive (NYSE:SAHGet Rating) is scheduled to release its earnings data before the market opens on Thursday, April 28th. Analysts expect Sonic Automotive to post earnings of $2.45 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Sonic Automotive (NYSE:SAHGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.83. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.11 billion. Sonic Automotive had a return on equity of 37.99% and a net margin of 2.81%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. On average, analysts expect Sonic Automotive to post $10 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Shares of SAH opened at $44.74 on Thursday. The company has a market cap of $1.80 billion, a PE ratio of 5.54 and a beta of 2.20. The company has a current ratio of 1.10, a quick ratio of 0.44 and a debt-to-equity ratio of 1.53. The stock has a 50-day moving average price of $47.53 and a 200-day moving average price of $48.91. Sonic Automotive has a 12-month low of $38.64 and a 12-month high of $58.00.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, March 14th. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.12. Sonic Automotive’s dividend payout ratio (DPR) is 12.38%.

In other Sonic Automotive news, President Jeff Dyke sold 6,395 shares of Sonic Automotive stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $52.37, for a total value of $334,906.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Paul P. Rusnak purchased 127,475 shares of the firm’s stock in a transaction on Wednesday, April 6th. The stock was bought at an average cost of $41.89 per share, for a total transaction of $5,339,927.75. Following the completion of the purchase, the insider now directly owns 5,000,000 shares in the company, valued at $209,450,000. The disclosure for this purchase can be found here. 36.07% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SAH. BlackRock Inc. increased its stake in shares of Sonic Automotive by 3.5% during the fourth quarter. BlackRock Inc. now owns 4,191,859 shares of the company’s stock valued at $207,289,000 after buying an additional 141,294 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Sonic Automotive by 115.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 174,821 shares of the company’s stock valued at $8,645,000 after buying an additional 93,816 shares during the period. Morgan Stanley increased its stake in shares of Sonic Automotive by 63.5% during the second quarter. Morgan Stanley now owns 237,695 shares of the company’s stock valued at $10,633,000 after buying an additional 92,316 shares during the period. Deutsche Bank AG increased its stake in shares of Sonic Automotive by 111.3% during the fourth quarter. Deutsche Bank AG now owns 80,292 shares of the company’s stock valued at $3,971,000 after buying an additional 42,297 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Sonic Automotive by 76.2% during the fourth quarter. Marshall Wace LLP now owns 85,618 shares of the company’s stock valued at $4,233,000 after buying an additional 37,023 shares during the period. 56.65% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on SAH. Zacks Investment Research downgraded Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 target price for the company. in a research report on Thursday, March 10th. JPMorgan Chase & Co. downgraded Sonic Automotive from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $57.00 in a research report on Thursday, April 7th. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Finally, Morgan Stanley boosted their target price on Sonic Automotive from $40.00 to $43.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 8th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.67.

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.

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Earnings History for Sonic Automotive (NYSE:SAH)

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