Sonic Corp. Reaches New 12-Month High at $17.52 (SONC)
Sonic Corp. (NASDAQ:SONC)’s share price reached a new 52-week high during mid-day trading on Wednesday, Analyst Ratings.Net reports. The stock traded as high as $17.52 and last traded at $17.32, with a volume of 393,575 shares traded. The stock had previously closed at $16.86.
A number of analysts have recently weighed in on SONC shares. Analysts at Wunderlich initiated coverage on shares of Sonic Corp. (NASDAQ:SONC) in a research note to investors on Friday, September 6th. They set a “buy” rating and a $19.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Sonic Corp. (NASDAQ:SONC) from a “buy” rating to a “hold” rating in a research note to investors on Monday, August 26th. Finally, analysts at Jefferies Group raised their price target on shares of Sonic Corp. (NASDAQ:SONC) from $14.00 to $15.50 in a research note to investors on Tuesday, August 20th. They now have a “hold” rating on the stock.
One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.31.
Sonic Corp. has a one year low of $9.06 and a one year high of $16.99. The stock has a 50-day moving average of $16.07 and a 200-day moving average of $13.96. The company has a market cap of $971.3 million and a P/E ratio of 24.99.
Sonic Corp. (NASDAQ:SONC) last announced its earnings results on Monday, June 24th. The company reported $0.26 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.26. The company had revenue of $146.60 million for the quarter, compared to the consensus estimate of $147.54 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts expect that Sonic Corp. will post $0.70 EPS for the current fiscal year.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.