Sonic Automotive, Inc. (NYSE:SAH) – Stock analysts at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for Sonic Automotive in a report released on Monday. Jefferies Group analyst B. Jordan now expects that the company will earn $0.56 per share for the quarter, down from their previous estimate of $0.58. Jefferies Group has a “Hold” rating and a $22.00 price objective on the stock. Jefferies Group also issued estimates for Sonic Automotive’s Q4 2017 earnings at $0.72 EPS, FY2017 earnings at $1.90 EPS, Q1 2018 earnings at $0.40 EPS, Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.67 EPS and FY2018 earnings at $2.09 EPS.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by $0.06. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.15%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $0.50 EPS. Sonic Automotive’s revenue was up 1.0% on a year-over-year basis.

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A number of other research analysts also recently weighed in on SAH. ValuEngine downgraded Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. TheStreet downgraded Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Morgan Stanley decreased their price target on Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, BidaskClub lowered Sonic Automotive from a “hold” rating to a “sell” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.75.

Shares of Sonic Automotive (NYSE:SAH) opened at 18.15 on Tuesday. The firm has a market cap of $816.59 million, a price-to-earnings ratio of 12.21 and a beta of 1.53. Sonic Automotive has a 52-week low of $16.53 and a 52-week high of $27.45. The stock’s 50 day moving average price is $18.93 and its 200-day moving average price is $20.29.

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in shares of Sonic Automotive by 20.4% in the first quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock valued at $100,000 after buying an additional 844 shares in the last quarter. State of Alaska Department of Revenue increased its position in Sonic Automotive by 78.3% in the second quarter. State of Alaska Department of Revenue now owns 5,153 shares of the company’s stock valued at $100,000 after buying an additional 2,263 shares during the period. Mason Street Advisors LLC increased its position in Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock valued at $123,000 after buying an additional 405 shares during the period. Public Employees Retirement System of Ohio increased its position 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 valued at $178,000 after buying an additional 410 shares during the period. Finally, Karp Capital Management Corp bought a new position in Sonic Automotive during the first quarter valued at approximately $211,000. Hedge funds and other institutional investors own 63.23% of the company’s stock.

In other news, insider O Bruton Smith acquired 19,273 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average cost of $18.55 per share, for a total transaction of $357,514.15. Following the acquisition, the insider now directly owns 676,609 shares in the company, valued at $12,551,096.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 30.29% of the stock is owned by insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a yield of 1.10%. Sonic Automotive’s payout ratio is currently 13.42%.

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.

Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

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