Sonic Automotive, Inc. (SAH) To Go Ex-Dividend on September 15th

Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Thursday, July 30th. Investors of record on Tuesday, September 15th will be given a dividend of 0.41 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, September 15th.

Sonic Automotive has raised its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Sonic Automotive has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $7.53 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 21.8%.

Sonic Automotive Trading Down 8.9%

NYSE SAH opened at $91.43 on Friday. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93. The stock has a market capitalization of $2.89 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.54 and a beta of 0.89. Sonic Automotive has a 52-week low of $54.11 and a 52-week high of $113.67. The firm has a 50-day moving average price of $88.55 and a 200 day moving average price of $73.95.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Sonic Automotive had a return on equity of 20.68% and a net margin of 1.37%.The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the previous year, the company earned $2.19 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that Sonic Automotive will post 6.93 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on SAH shares. Bank of America lifted their price target on Sonic Automotive from $91.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their target price on Sonic Automotive from $77.00 to $76.00 and set an “underweight” rating for the company in a report on Monday, July 13th. Citigroup boosted their target price on shares of Sonic Automotive from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Sonic Automotive from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $96.11.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.