Headlines about Sonic (NASDAQ:SONC) have been trending somewhat positive this week, according to Accern Sentiment. The research firm scores the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sonic earned a coverage optimism score of 0.03 on Accern’s scale. Accern also assigned press coverage about the restaurant operator an impact score of 44.8133511246175 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have effected Accern’s rankings:
- Sonic Corporation :SONC-US: Earnings Analysis: Q1, 2018 By the Numbers : January 19, 2018 (finance.yahoo.com)
- Is It Time To Buy Sonic Corp (NASDAQ:SONC) Based Off Its PE Ratio? (finance.yahoo.com)
- Federico F. Pena Sells 4,575 Shares of Sonic Co. (SONC) Stock (americanbankingnews.com)
- Free Post Earnings Research Report: Sonic’s Adjusted EPS Surged 25% (finance.yahoo.com)
- Sonic (SONC) PT Raised to $28.00 at Barclays (americanbankingnews.com)
A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Sonic from $27.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, January 16th. BidaskClub cut shares of Sonic from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Zacks Investment Research raised shares of Sonic from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Wednesday, January 10th. Cowen reaffirmed a “hold” rating and issued a $29.00 target price on shares of Sonic in a report on Tuesday, January 9th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $30.00 target price on shares of Sonic in a report on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.64.
Shares of Sonic (NASDAQ:SONC) opened at $26.49 on Friday. The company has a market cap of $1,018.75, a P/E ratio of 17.90, a PEG ratio of 1.18 and a beta of 1.74. Sonic has a 1 year low of $22.11 and a 1 year high of $30.05. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.81.
Sonic (NASDAQ:SONC) last released its quarterly earnings results on Thursday, January 4th. The restaurant operator reported $0.30 EPS for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $105.40 million for the quarter, compared to analyst estimates of $106.86 million. Sonic had a net margin of 13.68% and a negative return on equity of 28.95%. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 earnings per share. sell-side analysts predict that Sonic will post 1.53 EPS for the current fiscal year.
Sonic announced that its board has approved a stock repurchase plan on Thursday, October 26th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 14.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Wednesday, February 7th will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.64 annualized dividend and a dividend yield of 2.42%. Sonic’s dividend payout ratio is presently 43.24%.
In related news, Director Federico F. Pena sold 1,161 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $25.20, for a total transaction of $29,257.20. Following the sale, the director now owns 1,187,659 shares in the company, valued at $29,929,006.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank E. Richardson III sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $25.59, for a total transaction of $1,279,500.00. Following the sale, the director now owns 1,187,659 shares in the company, valued at approximately $30,392,193.81. The disclosure for this sale can be found here. Insiders sold 172,162 shares of company stock worth $4,656,551 over the last quarter. Company insiders own 6.24% of the company’s stock.
Sonic Company Profile
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.
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