A number of firms have modified their ratings and price targets on shares of Sonic Corp. (NASDAQ: SONC) recently:

  • 8/1/2017 – Sonic Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 7/27/2017 – Sonic Corp. was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/27/2017 – Sonic Corp. had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $26.00 price target on the stock.
  • 7/26/2017 – Sonic Corp. had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $32.00 price target on the stock.
  • 7/18/2017 – Sonic Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Sonic Corp. operates and franchises one of the largest chain of drive-in restaurants in the United States. Sonic restaurants offer made-to-order hamburgers and other sandwiches and feature Sonic signature items, such as footlong coney cheese dogs, hand-battered onion rings, tater tots, specialty soft drinks, including cherry limeades and slushes, and frozen desserts. At a typical Sonic restaurant, a customer drives into one of 24 to 36 covered drive-in spaces, orders through an intercom, and has the food delivered by a carhop within an average of four minutes. “
  • 7/16/2017 – Sonic Corp. was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/26/2017 – Sonic Corp. had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $32.00 price target on the stock.
  • 6/26/2017 – Sonic Corp. had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $29.00 price target on the stock.
  • 6/25/2017 – Sonic Corp. had its “underperform” rating reaffirmed by analysts at Bank of America Corporation. They now have a $28.00 price target on the stock, down previously from $30.00.
  • 6/24/2017 – Sonic Corp. was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/23/2017 – Sonic Corp. had its price target raised by analysts at Cowen and Company from $23.00 to $25.00. They now have a “market perform” rating on the stock.
  • 6/17/2017 – Sonic Corp. was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/13/2017 – Sonic Corp. was downgraded by analysts at Bank of America Corporation from a “buy” rating to an “underperform” rating. They now have a $30.00 price target on the stock, up previously from $27.00.

Shares of Sonic Corp. (NASDAQ SONC) traded up 1.98% on Monday, reaching $24.74. The company had a trading volume of 1,198,471 shares. Sonic Corp. has a 52 week low of $21.12 and a 52 week high of $30.05. The company has a market capitalization of $1.03 billion, a P/E ratio of 16.49 and a beta of 1.74. The company has a 50 day moving average of $26.27 and a 200-day moving average of $26.21.

Sonic Corp. (NASDAQ:SONC) last announced its quarterly earnings results on Thursday, June 22nd. The restaurant operator reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.02. The company had revenue of $124 million during the quarter, compared to the consensus estimate of $122.58 million. Sonic Corp. had a negative return on equity of 44.21% and a net margin of 13.23%. Sonic Corp.’s revenue for the quarter was down 24.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. Analysts predict that Sonic Corp. will post $1.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, August 7th. Sonic Corp.’s dividend payout ratio (DPR) is 37.33%.

In other news, Director Frank E. Richardson III sold 50,000 shares of Sonic Corp. stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $28.15, for a total transaction of $1,407,500.00. Following the sale, the director now owns 1,202,310 shares in the company, valued at $33,845,026.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven A. Davis bought 2,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average price of $24.62 per share, for a total transaction of $49,240.00. The disclosure for this purchase can be found here. 6.24% of the stock is owned by insiders.

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

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