Sonic Automotive Inc. (SAH) Receives Hold Rating from Jefferies Group
Sonic Automotive Inc. (NYSE:SAH)‘s stock had its “hold” rating reaffirmed by analysts at Jefferies Group in a research note issued on Wednesday.
Separately, Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a report on Thursday, September 15th.
Sonic Automotive (NYSE:SAH) opened at 18.95 on Wednesday. Sonic Automotive has a 12-month low of $15.68 and a 12-month high of $25.77. The company has a market cap of $861.22 million, a PE ratio of 9.64 and a beta of 1.81. The company’s 50-day moving average price is $18.13 and its 200-day moving average price is $17.62.
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Sonic Automotive (NYSE:SAH) last posted its earnings results on Tuesday, July 26th. The company reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. Sonic Automotive had a net margin of 0.99% and a return on equity of 14.65%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Sonic Automotive will post $2.10 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Thursday, September 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Tuesday, September 13th. Sonic Automotive’s payout ratio is 10.26%.
In related news, insider O Bruton Smith bought 50,000 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were purchased at an average price of $16.74 per share, with a total value of $837,000.00. Following the purchase, the insider now owns 475,242 shares of the company’s stock, valued at approximately $7,955,551.08. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 29.32% of the company’s stock.
Several large investors have recently made changes to their positions in SAH. TIAA CREF Investment Management LLC raised its stake in shares of Sonic Automotive by 51.5% in the first quarter. TIAA CREF Investment Management LLC now owns 183,773 shares of the company’s stock worth $3,396,000 after buying an additional 62,455 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Sonic Automotive by 161.0% in the first quarter. Prudential Financial Inc. now owns 304,209 shares of the company’s stock worth $5,622,000 after buying an additional 187,659 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Sonic Automotive by 3.9% in the first quarter. BlackRock Group LTD now owns 75,901 shares of the company’s stock worth $1,402,000 after buying an additional 2,846 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Sonic Automotive by 19.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,064,365 shares of the company’s stock worth $19,669,000 after buying an additional 175,536 shares during the last quarter. Finally, Menta Capital LLC bought a new stake in shares of Sonic Automotive during the first quarter worth $410,000. 65.87% of the stock is currently owned by hedge funds and other institutional investors.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.
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