Sonic Automotive, Inc. (NYSE:SAH – Get Rating) – Research analysts at Jefferies Financial Group increased their Q3 2022 EPS estimates for shares of Sonic Automotive in a research note issued on Thursday, July 28th. Jefferies Financial Group analyst B. Jordan now anticipates that the company will earn $2.60 per share for the quarter, up from their previous estimate of $2.52. The consensus estimate for Sonic Automotive’s current full-year earnings is $10.06 per share. Jefferies Financial Group also issued estimates for Sonic Automotive’s Q4 2022 earnings at $2.71 EPS, FY2022 earnings at $10.08 EPS, Q1 2023 earnings at $2.02 EPS, Q2 2023 earnings at $2.11 EPS, Q3 2023 earnings at $2.14 EPS, Q4 2023 earnings at $2.50 EPS and FY2023 earnings at $8.78 EPS.
Sonic Automotive (NYSE:SAH – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.55 by ($0.10). Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the company posted $2.63 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year.
SAH has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Sonic Automotive from $40.00 to $33.00 and set an “underweight” rating on the stock in a report on Thursday, July 14th. JPMorgan Chase & Co. reduced their target price on shares of Sonic Automotive from $51.00 to $47.00 in a report on Friday, July 15th. Seaport Res Ptn lowered shares of Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Friday, April 29th. Finally, StockNews.com lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Friday, July 15th.
Sonic Automotive Price Performance
Sonic Automotive stock opened at $41.85 on Monday. The firm has a market cap of $1.66 billion, a PE ratio of 4.57 and a beta of 2.07. Sonic Automotive has a 52-week low of $34.17 and a 52-week high of $58.00. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.45. The company’s 50 day moving average is $39.99 and its two-hundred day moving average is $44.67.
Sonic Automotive Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.39%. Sonic Automotive’s payout ratio is 10.92%.
Institutional Investors Weigh In On Sonic Automotive
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC raised its holdings in shares of Sonic Automotive by 4.7% in the 4th quarter. Capital Investment Advisory Services LLC now owns 4,482 shares of the company’s stock valued at $222,000 after purchasing an additional 200 shares in the last quarter. NorthCrest Asset Manangement LLC grew its position in shares of Sonic Automotive by 1.4% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,000 shares of the company’s stock valued at $765,000 after buying an additional 250 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Sonic Automotive by 1.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 19,013 shares of the company’s stock valued at $830,000 after buying an additional 326 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Sonic Automotive by 2.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,786 shares of the company’s stock valued at $541,000 after buying an additional 355 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Sonic Automotive by 1.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 33,525 shares of the company’s stock valued at $1,425,000 after buying an additional 370 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.
About Sonic Automotive
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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