Sonic Corp. (SONC) Issues Q4 Earnings Guidance
Sonic Corp. (NASDAQ:SONC) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.28, AnalystRatingsNetwork.com reports.
Sonic Corp. (NASDAQ:SONC) opened at 17.38 on Thursday. Sonic Corp. has a 52 week low of $9.06 and a 52 week high of $17.52. The stock’s 50-day moving average is $16.11 and its 200-day moving average is $13.98. The company has a market cap of $971.3 million and a P/E ratio of 25.75.
Sonic Corp. (NASDAQ:SONC) last released its earnings data 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 last year, the company posted $0.24 earnings per share. Sonic Corp.’s revenue was down 1.9% compared to the same quarter last year. On average, analysts predict that Sonic Corp. will post $0.70 earnings per share for the current fiscal year.
SONC has been the subject of a number of recent research reports. 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. On a related note, 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 stock. The stock has a consensus rating of Hold and an average target price of $15.31.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
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