News articles about Sonic Corp. (NASDAQ:SONC) have trended somewhat positive this week, Accern Sentiment reports. The research group scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sonic Corp. earned a media sentiment score of 0.08 on Accern’s scale. Accern also gave headlines about the restaurant operator an impact score of 44.9047826318453 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.

Sonic Corp. (SONC) traded up $0.45 during trading hours on Friday, hitting $24.57. 517,200 shares of the stock traded hands, compared to its average volume of 948,697. Sonic Corp. has a twelve month low of $22.11 and a twelve month high of $30.05. The company has a debt-to-equity ratio of -3.19, a quick ratio of 1.48 and a current ratio of 1.52. The company has a market cap of $996.60, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.23 and a beta of 1.75.

Sonic Corp. (NASDAQ:SONC) last posted its quarterly earnings results on Monday, October 16th. The restaurant operator reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $123.60 million during the quarter, compared to analyst estimates of $126.01 million. Sonic Corp. had a net margin of 13.34% and a negative return on equity of 33.92%. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. sell-side analysts expect that Sonic Corp. will post 1.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Wednesday, November 8th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Tuesday, November 7th. This is a positive change from Sonic Corp.’s previous quarterly dividend of $0.14. Sonic Corp.’s payout ratio is 43.84%.

Sonic Corp. declared that its board has approved a stock repurchase program on Wednesday, August 9th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 16.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

SONC has been the subject of several research reports. Zacks Investment Research raised shares of Sonic Corp. from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $29.00 price objective on shares of Sonic Corp. in a research report on Tuesday, October 17th. Canaccord Genuity boosted their price objective on shares of Sonic Corp. from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, October 17th. Cowen and Company reissued a “neutral” rating on shares of Sonic Corp. in a research report on Tuesday, October 17th. Finally, Citigroup Inc. initiated coverage on shares of Sonic Corp. in a research report on Monday, September 18th. They issued a “buy” rating and a $28.00 price objective for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Sonic Corp. has a consensus rating of “Hold” and an average target price of $27.73.

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In other news, Director Steven A. Davis acquired 2,000 shares of Sonic Corp. stock in a transaction that occurred on Wednesday, September 6th. The stock was purchased at an average price of $23.00 per share, for a total transaction of $46,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Federico F. Pena sold 1,161 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $25.20, for a total transaction of $29,257.20. Following the transaction, the director now owns 1,187,659 shares of the company’s stock, valued at approximately $29,929,006.80. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.

Sonic Corp. 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.

Insider Buying and Selling by Quarter for Sonic Corp. (NASDAQ:SONC)

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