Shares of Sonic Automotive Inc (NYSE:SAH) dropped 8.3% during trading on Tuesday . The stock traded as low as $18.08 and last traded at $18.20. Approximately 506,770 shares changed hands during trading, an increase of 64% from the average daily volume of 308,142 shares. The stock had previously closed at $19.85.
SAH has been the subject of several research reports. Zacks Investment Research cut Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Bank of America upgraded Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price target for the company in a research report on Monday, January 8th. ValuEngine cut Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley boosted their price target on Sonic Automotive from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Sonic Automotive has a consensus rating of “Hold” and a consensus price target of $23.25.
The company has a current ratio of 1.03, a quick ratio of 0.26 and a debt-to-equity ratio of 1.22. The company has a market cap of $835.54, a price-to-earnings ratio of 8.58, a PEG ratio of 2.88 and a beta of 1.60.
Sonic Automotive (NYSE:SAH) last issued its earnings results on Tuesday, February 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Sonic Automotive had a return on equity of 11.17% and a net margin of 0.94%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. equities research analysts anticipate that Sonic Automotive Inc will post 2.28 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 15th will be issued a $0.06 dividend. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, March 14th. Sonic Automotive’s dividend payout ratio is presently 11.32%.
A number of large investors have recently modified their holdings of SAH. State Street Corp grew its holdings in Sonic Automotive by 2.0% in the 2nd quarter. State Street Corp now owns 839,717 shares of the company’s stock valued at $16,336,000 after buying an additional 16,540 shares in the last quarter. Nationwide Fund Advisors grew its holdings in Sonic Automotive by 6.7% in the 3rd quarter. Nationwide Fund Advisors now owns 73,488 shares of the company’s stock valued at $1,499,000 after buying an additional 4,605 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Sonic Automotive in the 3rd quarter valued at $351,000. Prudential Financial Inc. grew its holdings in Sonic Automotive by 0.6% in the 3rd quarter. Prudential Financial Inc. now owns 425,530 shares of the company’s stock valued at $8,681,000 after buying an additional 2,600 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Sonic Automotive by 53.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,385 shares of the company’s stock valued at $293,000 after buying an additional 5,026 shares in the last quarter. Institutional investors own 64.16% of the company’s stock.
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Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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