Seaport Res Ptn Issues Pessimistic Estimate for SAH Earnings

Sonic Automotive, Inc. (NYSE:SAH - Free Report) - Investment analysts at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for shares of Sonic Automotive in a note issued to investors on Thursday, November 21st. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings of $5.50 per share for the year, down from their previous forecast of $5.70. Seaport Res Ptn has a "Strong-Buy" rating on the stock. The consensus estimate for Sonic Automotive's current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for Sonic Automotive's Q4 2024 earnings at $1.41 EPS and FY2025 earnings at $6.15 EPS.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the business earned $2.02 EPS. The firm's revenue was down 4.2% compared to the same quarter last year.

A number of other analysts have also recently weighed in on the company. Needham & Company LLC raised their price target on Sonic Automotive from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their target price 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 upgraded shares of Sonic Automotive from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Stephens began coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They set an "equal weight" rating and a $64.00 price objective for the company. Finally, Bank of America lowered their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.40.

Sonic Automotive Stock Up 4.6 %

Shares of SAH traded up $3.06 during midday trading on Monday, reaching $69.63. The stock had a trading volume of 238,544 shares, compared to its average volume of 196,135. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The company's fifty day simple moving average is $58.72 and its two-hundred day simple moving average is $57.84. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 12.50 and a beta of 1.61. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $70.88.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Sonic Automotive during the 2nd quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. boosted its position in Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after purchasing an additional 599 shares in the last quarter. AM Squared Ltd acquired a new stake in Sonic Automotive in the second quarter valued at $82,000. Point72 DIFC Ltd increased its position in shares of Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock valued at $158,000 after buying an additional 187 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Sonic Automotive in the 2nd quarter worth about $228,000. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Sonic Automotive's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. Sonic Automotive's payout ratio is presently 24.91%.

Sonic Automotive Company Profile

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.