Sonic Automotive Downgraded by Stephens to “Equal Weight” (SAH)
Sonic Automotive (NYSE:SAH) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Shares of Sonic Automotive (NYSE:SAH) opened at 24.29 on Tuesday. Sonic Automotive has a one year low of $17.03 and a one year high of $25.51. The stock has a 50-day moving average of $23.57 and a 200-day moving average of $22.71. The company has a market cap of $1.282 billion and a P/E ratio of 18.76.
Sonic Automotive (NYSE:SAH) last released its earnings data on Monday, October 21st. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.50. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.29 billion.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.03 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Wednesday, December 11th.
Separately, analysts at Zacks upgraded shares of Sonic Automotive from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 14th. They now have a $25.80 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $27.27.
Sonic Automotive, Inc (NYSE:SAH) is engaged in automotive retailing in the United States.
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