Sonic Automotive, Inc. (NYSE:SAH) Plans $0.35 Quarterly Dividend

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) declared a quarterly dividend on Wednesday, February 12th,NASDAQ Dividends reports. Investors of record on Friday, March 14th will be paid a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, March 14th.

Sonic Automotive has increased its dividend by an average of 39.6% annually over the last three years. Sonic Automotive has a payout ratio of 18.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $6.15 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.8%.

Sonic Automotive Trading Down 0.0 %

SAH stock traded down $0.02 during midday trading on Friday, hitting $73.55. The stock had a trading volume of 174,144 shares, compared to its average volume of 159,363. The firm has a market cap of $2.51 billion, a PE ratio of 13.09 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $76.78. The company's 50-day moving average price is $68.03 and its 200 day moving average price is $62.82.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. On average, equities research analysts predict that Sonic Automotive will post 5.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SAH. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Wednesday. Seaport Res Ptn raised shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Needham & Company LLC boosted their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday. Stephens boosted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective 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, January 17th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sonic Automotive has a consensus rating of "Buy" and a consensus price target of $78.00.

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.