Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Rating of “Reduce” by Brokerages

Sonic Automotive, Inc. (NYSE:SAH) has earned an average rating of “Reduce” from the four brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and one has assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $53.40.

A number of brokerages have recently issued reports on SAH. Morgan Stanley increased their target price on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America dropped their price target on Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Thursday, February 29th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Capital Investment Advisory Services LLC boosted its position in shares of Sonic Automotive by 14.8% in the 1st quarter. Capital Investment Advisory Services LLC now owns 9,354 shares of the company’s stock worth $533,000 after purchasing an additional 1,205 shares during the last quarter. Denali Advisors LLC grew its stake in Sonic Automotive by 32.0% in the first quarter. Denali Advisors LLC now owns 36,700 shares of the company’s stock valued at $2,090,000 after acquiring an additional 8,900 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Sonic Automotive in the first quarter valued at about $30,000. Quadrature Capital Ltd acquired a new position in Sonic Automotive in the fourth quarter valued at about $1,724,000. Finally, Oracle Alpha Inc. acquired a new position in Sonic Automotive in the fourth quarter valued at about $410,000. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Trading Up 10.8 %

Shares of SAH opened at $56.66 on Friday. Sonic Automotive has a 1 year low of $39.02 and a 1 year high of $60.24. The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 2.10. The stock has a 50 day simple moving average of $52.33 and a 200-day simple moving average of $51.86. The stock has a market cap of $1.93 billion, a PE ratio of 11.40 and a beta of 1.82.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Wednesday, February 14th. The company reported $1.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same period in the previous year, the company posted $2.61 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts predict that Sonic Automotive will post 5.62 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.12%. Sonic Automotive’s payout ratio is 24.14%.

About Sonic Automotive

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.