Sonic Automotive (SAH) Set to Announce Earnings on Thursday

Sonic Automotive (NYSE:SAH) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $1.26 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 14th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.17). Sonic Automotive had a net margin of 1.24% and a return on equity of 28.06%. The business had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the firm posted $2.61 earnings per share. Sonic Automotive’s revenue was down .2% on a year-over-year basis. On average, analysts expect Sonic Automotive to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonic Automotive Trading Down 1.8 %

Shares of SAH stock opened at $48.66 on Thursday. Sonic Automotive has a 12-month low of $39.02 and a 12-month high of $60.24. The company has a market capitalization of $1.65 billion, a P/E ratio of 9.79 and a beta of 1.82. The firm has a 50-day moving average price of $53.03 and a 200 day moving average price of $51.65. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, March 14th. Sonic Automotive’s dividend payout ratio is currently 24.14%.

Institutional Investors Weigh In On Sonic Automotive

Several institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of Sonic Automotive by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,348 shares of the company’s stock worth $695,000 after buying an additional 209 shares during the period. FMR LLC grew its position in shares of Sonic Automotive by 0.9% during the 1st quarter. FMR LLC now owns 29,209 shares of the company’s stock worth $1,587,000 after buying an additional 258 shares during the period. Captrust Financial Advisors grew its position in shares of Sonic Automotive by 5.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,720 shares of the company’s stock worth $211,000 after buying an additional 281 shares during the period. Royal Bank of Canada grew its position in shares of Sonic Automotive by 2.9% during the 3rd quarter. Royal Bank of Canada now owns 10,486 shares of the company’s stock worth $501,000 after buying an additional 296 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Sonic Automotive by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 6,014 shares of the company’s stock worth $286,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Bank of America cut their price target on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Thursday, February 29th. TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley boosted their target price on shares of Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $53.40.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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.