Sonic Automotive, Inc. (NYSE:SAH) Receives $53.40 Average PT from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH) have been assigned an average rating of “Reduce” from the four research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $53.40.

Several brokerages have recently weighed in on SAH. StockNews.com lowered shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Morgan Stanley boosted their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America reduced their price target on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Thursday, February 29th. Finally, TheStreet upgraded shares of Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th.

Sonic Automotive Stock Performance

NYSE SAH opened at $50.87 on Friday. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.10 and a quick ratio of 0.41. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 10.23 and a beta of 1.82. The company’s fifty day moving average is $52.38 and its two-hundred day moving average is $51.84. Sonic Automotive has a 52-week low of $39.02 and a 52-week high of $60.24.

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. Equities research analysts forecast that Sonic Automotive will post 5.75 EPS for the current year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Thursday, March 14th. Sonic Automotive’s dividend payout ratio is presently 24.14%.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors have recently modified their holdings of SAH. SG Americas Securities LLC bought a new position in shares of Sonic Automotive in the third quarter worth about $135,000. Denali Advisors LLC bought a new stake in shares of Sonic Automotive during the third quarter worth approximately $1,328,000. Olympiad Research LP bought a new stake in shares of Sonic Automotive during the third quarter worth approximately $214,000. Illinois Municipal Retirement Fund bought a new stake in shares of Sonic Automotive during the third quarter worth approximately $443,000. Finally, New York State Common Retirement Fund raised its stake in shares of Sonic Automotive by 140.4% during the third quarter. New York State Common Retirement Fund now owns 17,892 shares of the company’s stock worth $855,000 after buying an additional 10,450 shares during the last quarter. 46.92% of the stock is owned by institutional investors.

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.