Sonic Automotive (NYSE:SAH) Reaches New 52-Week High After Strong Earnings

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report)'s share price hit a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $76.78 and last traded at $71.54, with a volume of 7924 shares traded. The stock had previously closed at $74.76.

The company reported $1.51 EPS for the quarter, beating 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%.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.90%. Sonic Automotive's dividend payout ratio (DPR) is presently 24.91%.

Analyst Ratings Changes

SAH has been the subject of several analyst reports. Stephens increased 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. Needham & Company LLC raised their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday. Seaport Res Ptn raised shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an "overweight" rating for the company in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $78.00.

Institutional Investors Weigh In On Sonic Automotive

Several large investors have recently modified their holdings of SAH. Northern Trust Corp grew its position in Sonic Automotive by 6.7% during the 4th 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 last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Sonic Automotive during the fourth quarter worth $261,000. Price T Rowe Associates Inc. MD raised its position in shares of Sonic Automotive by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,349 shares of the company's stock valued at $910,000 after buying an additional 973 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Sonic Automotive by 8.7% in the fourth quarter. MetLife Investment Management LLC now owns 9,104 shares of the company's stock valued at $577,000 after buying an additional 731 shares during the last quarter. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of Sonic Automotive by 105.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock valued at $3,708,000 after purchasing an additional 30,002 shares during the period. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Trading Down 0.0 %

The company 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. The company's 50 day simple moving average is $68.03 and its two-hundred day simple moving average is $62.79.

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.