Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $67.40.

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Sonic Automotive from $63.00 to $75.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Morgan Stanley raised Sonic Automotive from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $40.00 to $58.00 in a report on Wednesday, September 25th. Needham & Company LLC increased their price objective on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Stephens assumed coverage on Sonic Automotive in a research note on Thursday, September 12th. They issued an "equal weight" rating and a $64.00 price objective for the company. Finally, Bank of America cut their price target on Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a research note on Monday, October 14th.

Institutional Trading of Sonic Automotive

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Sonic Automotive in the first quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in shares of Sonic Automotive in the 2nd quarter valued at $41,000. AM Squared Ltd bought a new position in shares of Sonic Automotive in the 2nd quarter valued at $82,000. Point72 DIFC Ltd boosted its holdings in shares of Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock valued at $158,000 after acquiring an additional 187 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Sonic Automotive during the 2nd quarter valued at $228,000. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Trading Up 2.0 %

Shares of NYSE:SAH traded up $1.16 during trading on Tuesday, reaching $58.44. 124,474 shares of the stock were exchanged, compared to its average volume of 196,279. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $64.68. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 10.40 and a beta of 1.61. The firm's 50-day moving average price is $57.27 and its 200 day moving average price is $57.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.17). The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 earnings per share. On average, sell-side analysts anticipate that Sonic Automotive will post 5.62 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Sonic Automotive's previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.40%. Sonic Automotive's payout ratio is 21.35%.

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.