Sonic Given Consensus Recommendation of “Hold” by Analysts (NASDAQ:SONC)
Shares of Sonic (NASDAQ:SONC) have received a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the company, StockRatingsNetwork reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $20.79.
A number of analysts have recently weighed in on SONC shares. Analysts at Susquehanna raised their price target on shares of Sonic from $21.00 to $22.00 in a research note on Tuesday. Separately, analysts at Wunderlich raised their price target on shares of Sonic from $25.00 to $26.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer upgraded shares of Sonic from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 8th. They now have a $25.00 price target on the stock.
Shares of Sonic (NASDAQ:SONC) traded up 0.97% during mid-day trading on Tuesday, hitting $22.87. 993,799 shares of the company’s stock traded hands. Sonic has a one year low of $13.63 and a one year high of $23.56. The stock has a 50-day moving average of $21.05 and a 200-day moving average of $20.45. The company has a market cap of $1.243 billion and a P/E ratio of 33.36.
Sonic (NASDAQ:SONC) last issued its quarterly earnings data on Monday, June 23rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $152.20 million for the quarter, compared to the consensus estimate of $148.55 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts predict that Sonic will post $0.83 earnings per share for the current fiscal year.
Sonic Corp. (NASDAQ:SONC) operates and franchises chain of drive-in restaurants (Sonic Drive-Ins) in the United States.
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