$2.56 Billion in Sales Expected for Sonic Automotive, Inc. (SAH) This Quarter
Wall Street brokerages predict that Sonic Automotive, Inc. (NYSE:SAH) will post sales of $2.56 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Sonic Automotive’s earnings. The highest sales estimate is $2.58 billion and the lowest is $2.53 billion. Sonic Automotive also reported sales of $2.56 billion in the same quarter last year. The firm is expected to report its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Sonic Automotive will report full year sales of $2.56 billion for the current financial year, with estimates ranging from $9.82 billion to $9.92 billion. For the next year, analysts anticipate that the firm will report sales of $9.90 billion per share, with estimates ranging from $9.78 billion to $10.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sonic Automotive.
Sonic Automotive (NYSE:SAH) last released its earnings results on Friday, July 28th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year.
Several research analysts have commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective on shares of Sonic Automotive in a research report on Friday, June 16th. ValuEngine lowered Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub lowered Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Morgan Stanley cut their price objective on Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Finally, TheStreet lowered Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Sonic Automotive presently has a consensus rating of “Hold” and a consensus target price of $21.75.
Institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of Sonic Automotive by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock valued at $215,000 after acquiring an additional 100 shares in the last quarter. State of Tennessee Treasury Department grew its stake in shares of Sonic Automotive by 7.5% during the first quarter. State of Tennessee Treasury Department now owns 24,786 shares of the company’s stock valued at $497,000 after acquiring an additional 1,721 shares in the last quarter. Strs Ohio grew its stake in shares of Sonic Automotive by 11.0% during the second quarter. Strs Ohio now owns 39,300 shares of the company’s stock valued at $764,000 after acquiring an additional 3,900 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Sonic Automotive during the first quarter valued at about $436,000. Finally, Nationwide Fund Advisors grew its stake in shares of Sonic Automotive by 7.4% during the first quarter. Nationwide Fund Advisors now owns 70,694 shares of the company’s stock valued at $1,417,000 after acquiring an additional 4,885 shares in the last quarter. Institutional investors own 63.74% of the company’s stock.
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Sonic Automotive (NYSE SAH) opened at 18.40 on Wednesday. Sonic Automotive has a 1-year low of $15.95 and a 1-year high of $27.45. The firm has a market capitalization of $807.04 million, a PE ratio of 12.38 and a beta of 1.50. The company’s 50-day moving average price is $17.41 and its 200 day moving average price is $18.84.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.09%. Sonic Automotive’s dividend payout ratio is presently 13.42%.
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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