Equities analysts predict that Sonic Co. (NASDAQ:SONC) will report earnings per share of $0.33 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sonic’s earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.31. Sonic reported earnings of $0.30 per share during the same quarter last year, which would suggest a positive year over year growth rate of 10%. The business is expected to report its next quarterly earnings report on Thursday, January 3rd.

On average, analysts expect that Sonic will report full-year earnings of $1.64 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.70. For the next fiscal year, analysts anticipate that the business will post earnings of $1.81 per share, with EPS estimates ranging from $1.71 to $1.89. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Sonic.

Sonic (NASDAQ:SONC) last posted its earnings results on Tuesday, October 16th. The restaurant operator reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $111.80 million during the quarter, compared to analysts’ expectations of $113.22 million. Sonic had a net margin of 16.81% and a negative return on equity of 21.64%. Sonic’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.45 EPS.

A number of analysts have recently issued reports on SONC shares. Zacks Investment Research upgraded shares of Sonic from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, July 19th. BidaskClub upgraded shares of Sonic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 24th. Wedbush started coverage on shares of Sonic in a research note on Thursday, September 6th. They set an “outperform” rating and a $42.00 target price for the company. Telsey Advisory Group raised their target price on shares of Sonic from $32.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 12th. Finally, Morgan Stanley raised their target price on shares of Sonic from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 13th. Fourteen equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.08.

In related news, VP Carolyn C. Cummins sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $43.31, for a total transaction of $108,275.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John H. Budd III sold 89,176 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $43.24, for a total transaction of $3,855,970.24. Following the transaction, the insider now directly owns 32,065 shares in the company, valued at $1,386,490.60. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Sonic by 10.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 312,839 shares of the restaurant operator’s stock valued at $10,768,000 after buying an additional 28,564 shares during the period. Millennium Management LLC bought a new position in Sonic in the 2nd quarter valued at about $1,966,000. HL Financial Services LLC increased its holdings in Sonic by 14.9% in the 2nd quarter. HL Financial Services LLC now owns 11,979 shares of the restaurant operator’s stock valued at $412,000 after buying an additional 1,553 shares during the period. Itau Unibanco Holding S.A. bought a new position in Sonic in the 2nd quarter valued at about $284,000. Finally, Catalyst Capital Advisors LLC bought a new position in Sonic in the 2nd quarter valued at about $706,000.

Shares of NASDAQ SONC traded down $0.04 during mid-day trading on Friday, reaching $43.32. 717,407 shares of the company were exchanged, compared to its average volume of 831,039. The stock has a market cap of $1.55 billion, a PE ratio of 29.07, a P/E/G ratio of 1.87 and a beta of 1.32. Sonic has a twelve month low of $23.22 and a twelve month high of $44.87.

Sonic declared that its board has approved a share repurchase program on Wednesday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the restaurant operator to repurchase up to 40.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Sonic Company Profile

Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of August 31, 2017, the company operated 3,593 Sonic Drive-Ins in 45 states, of which 228 were owned and operated by the company and 3,365 were owned and operated by franchisees. The company also owns and leases 135 properties; and sublease 53 properties to franchisees and other parties.

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Earnings History and Estimates for Sonic (NASDAQ:SONC)

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