Sonic Automotive, Inc. (NYSE:SAH) Receives Consensus Rating of "Buy" from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have received an average recommendation of "Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $74.80.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. StockNews.com downgraded Sonic Automotive from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Needham & Company LLC dropped their price objective on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company in a research report on Wednesday, March 19th.

Sonic Automotive Price Performance

Sonic Automotive stock traded down $0.03 during mid-day trading on Friday, reaching $56.17. 398,404 shares of the company were exchanged, compared to its average volume of 192,893. The company has a fifty day simple moving average of $66.92 and a 200-day simple moving average of $64.03. The firm has a market cap of $1.89 billion, a PE ratio of 9.09 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 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.

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Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, equities research analysts expect that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a yield of 2.49%. Sonic Automotive's payout ratio is presently 22.65%.

Institutional Trading of Sonic Automotive

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock valued at $98,658,000 after buying an additional 20,058 shares during the last quarter. Millennium Management LLC raised its stake in shares of Sonic Automotive by 3.9% during the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company's stock valued at $30,161,000 after acquiring an additional 17,965 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Sonic Automotive by 6.7% during the fourth quarter. Northern Trust Corp now owns 291,133 shares of the company's stock worth $18,443,000 after purchasing an additional 18,232 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Sonic Automotive by 12.4% in the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock worth $8,369,000 after purchasing an additional 14,600 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Sonic Automotive by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock valued at $8,162,000 after purchasing an additional 1,386 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.