Zacks: Brokerages Anticipate Sonic Automotive, Inc. (SAH) Will Announce Quarterly Sales of $2.44 Billion
Wall Street analysts expect that Sonic Automotive, Inc. (NYSE:SAH) will announce $2.44 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sonic Automotive’s earnings, with the highest sales estimate coming in at $2.44 billion and the lowest estimate coming in at $2.43 billion. Sonic Automotive posted sales of $2.38 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The firm is expected to issue its next earnings report before the market opens on Friday, July 28th.
According to Zacks, analysts expect that Sonic Automotive will report full-year sales of $2.44 billion for the current fiscal year, with estimates ranging from $9.84 billion to $9.99 billion. For the next fiscal year, analysts expect that the business will post sales of $10.02 billion per share, with estimates ranging from $9.87 billion to $10.22 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Sonic Automotive.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.23. Sonic Automotive had a net margin of 0.80% and a return on equity of 12.03%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis.
A number of equities analysts recently issued reports on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price on shares of Sonic Automotive in a research report on Wednesday, July 19th. ValuEngine lowered shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Morgan Stanley dropped their target price on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Finally, TheStreet lowered shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Sonic Automotive presently has an average rating of “Hold” and an average target price of $21.75.
Sonic Automotive (SAH) traded up 0.27% on Thursday, hitting $18.75. 178,128 shares of the stock were exchanged. The company’s 50 day moving average is $18.92 and its 200 day moving average is $20.41. The stock has a market cap of $843.58 million, a PE ratio of 10.89 and a beta of 1.54. Sonic Automotive has a 1-year low of $16.53 and a 1-year high of $27.45.
In other Sonic Automotive news, insider O Bruton Smith purchased 19,273 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average price of $18.55 per share, for a total transaction of $357,514.15. Following the completion of the purchase, the insider now directly owns 676,609 shares of the company’s stock, valued at $12,551,096.95. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 30.29% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System increased its stake in Sonic Automotive by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock worth $215,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in Sonic Automotive by 1.5% in the first quarter. Arizona State Retirement System now owns 13,705 shares of the company’s stock worth $275,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. increased its stake in Sonic Automotive by 1.4% in the second quarter. Capstone Asset Management Co. now owns 16,133 shares of the company’s stock worth $314,000 after buying an additional 230 shares in the last quarter. Mason Street Advisors LLC increased its stake in Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock worth $123,000 after buying an additional 405 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after buying an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
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Sonic Automotive Company Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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