Sonic Automotive, Inc. (NYSE:SAH) Receives $67.40 Consensus Target Price from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $67.40.

SAH has been the subject of a number of recent analyst reports. Stephens assumed coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an "equal weight" rating and a $64.00 price target for the company. 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 research note on Wednesday, September 25th. Bank of America reduced their price target on Sonic Automotive from $67.00 to $66.00 and set a "buy" rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. boosted their price objective on Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st.

Sonic Automotive Trading Down 1.1 %

SAH traded down $0.79 on Friday, hitting $69.14. The company had a trading volume of 101,079 shares, compared to its average volume of 195,351. The business's fifty day simple moving average is $59.99 and its 200 day simple moving average is $58.24. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $70.88. The company has a market cap of $2.36 billion, a PE ratio of 12.30 and a beta of 1.61.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly 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 company had revenue of $3.49 billion for the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The business's quarterly revenue was down 4.2% on a year-over-year basis. Equities research analysts expect that Sonic Automotive will post 5.6 EPS for the current year.

Sonic Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, December 13th. Sonic Automotive's dividend payout ratio is presently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Sonic Automotive in the second quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Sonic Automotive by 100.3% in the 3rd 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 position in Sonic Automotive during the 2nd quarter valued at approximately $82,000. Point72 DIFC Ltd raised its holdings 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 worth $158,000 after buying an additional 187 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Sonic Automotive during the second quarter worth $228,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

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.