Sonic Automotive, Inc. (NYSE:SAH) Receives $67.40 Average PT from Analysts

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the firm, Marketbeat Ratings 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 twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $67.40.

SAH has been the subject of a number of research reports. Needham & Company LLC raised their price objective on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Bank of America decreased their price objective 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. JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $63.00 to $75.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Finally, Stephens initiated coverage on Sonic Automotive in a report on Thursday, September 12th. They set an "equal weight" rating and a $64.00 price target for the company.

Sonic Automotive Trading Up 1.9 %

SAH traded up $1.18 during trading on Wednesday, reaching $64.16. The company had a trading volume of 81,313 shares, compared to its average volume of 191,375. The firm's 50-day simple moving average is $63.51 and its 200 day simple moving average is $59.36. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 11.42 and a beta of 1.65. Sonic Automotive has a 12-month low of $47.82 and a 12-month high of $70.88.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.17). The firm had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.02 EPS. Equities research analysts anticipate that Sonic Automotive will post 5.6 earnings per share for the current year.

Sonic Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, December 13th. This is an increase from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's dividend payout ratio (DPR) is presently 24.91%.

Institutional Investors Weigh In On Sonic Automotive

Several institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Sonic Automotive in the second quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of 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 buying an additional 599 shares in the last quarter. AM Squared Ltd bought a new stake in Sonic Automotive in the 2nd quarter valued at about $82,000. Point72 DIFC Ltd increased its stake in Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock worth $158,000 after acquiring an additional 187 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Sonic Automotive in the second quarter valued at about $228,000. 46.92% of the stock is owned by institutional investors.

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.