Seaport Res Ptn Issues Pessimistic Forecast for SAH Earnings

Sonic Automotive, Inc. (NYSE:SAH - Free Report) - Equities researchers at Seaport Res Ptn reduced their FY2024 EPS estimates for shares of Sonic Automotive in a research note issued on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now forecasts that the company will earn $5.49 per share for the year, down from their prior forecast of $5.50. 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 $1.40 EPS and FY2025 earnings at $6.11 EPS.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an "overweight" rating for the company in a research note on Friday. Bank of America decreased their target price on Sonic Automotive from $67.00 to $66.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $74.00 target price on shares of Sonic Automotive in a report on Thursday. Finally, Morgan Stanley upgraded Sonic Automotive from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.20.

Sonic Automotive Price Performance

SAH stock traded up $0.06 during trading hours on Monday, hitting $68.39. 146,398 shares of the stock traded hands, compared to its average volume of 117,849. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The stock has a 50-day simple moving average of $65.64 and a 200 day simple moving average of $60.48. Sonic Automotive has a one year low of $47.82 and a one year high of $70.88. The company has a market cap of $2.34 billion, a P/E ratio of 12.17 and a beta of 1.67.

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

Sonic Automotive Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's dividend payout ratio (DPR) is 24.91%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock valued at $70,000 after purchasing an additional 599 shares during the last quarter. Point72 DIFC Ltd increased 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 during the last quarter. SG Americas Securities LLC bought a new position in shares of Sonic Automotive in the 4th quarter valued at approximately $244,000. Intech Investment Management LLC acquired a new stake in Sonic Automotive in the 2nd quarter worth approximately $228,000. Finally, Inspire Investing LLC boosted its position in Sonic Automotive by 3.4% during the second quarter. Inspire Investing LLC now owns 6,475 shares of the company's stock worth $353,000 after purchasing an additional 211 shares during the period. 46.92% of the stock is owned by institutional investors and hedge funds.

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.