Sonic Corp. Given “Hold” Rating at Jefferies Group (SONC)
Sonic Corp. (NASDAQ:SONC)‘s stock had its “hold” rating restated by research analysts at Jefferies Group in a report released on Friday, American Banking News reports. They currently have a $18.00 price target on the stock, up from their previous price target of $15.50. Jefferies Group’s price objective indicates a potential upside of 0.50% from the stock’s previous close.
The analysts wrote, “SONC pre-announced F4Q EPS $0.30 vs. our/cons $0.28 as SSS +5.9% beat 2% consensus. F14 EPS outlook is essentially in-line with consensus (+14-15%), but stock rallying on stronger SSS & the hope that initial F14 EPS guide is conservative. We think modest EPS upside is possible, but stock fairly reflects improving visibility for positive SSS & double digit EPS growth.”
Shares of Sonic Corp. (NASDAQ:SONC) traded down 0.06% during mid-day trading on Friday, hitting $17.90. 220,801 shares of the company’s stock traded hands. Sonic Corp. has a one year low of $9.06 and a one year high of $18.25. The stock has a 50-day moving average of $16.18 and a 200-day moving average of $14.01. The company has a market cap of $1.000 billion and a P/E ratio of 26.53.
Sonic Corp. (NASDAQ:SONC) last announced its earnings results on Monday, June 24th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter 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.
A number of other analysts have also recently weighed in on SONC. 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 Stifel Nicolaus initiated coverage on shares of Sonic Corp. (NASDAQ:SONC) in a research note to investors on Tuesday, July 16th. They set a “hold” rating on the stock.
One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Sonic Corp. has an average rating of “Hold” and an average price target of $15.63.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
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