Zacks: Analysts Anticipate Sonic Automotive, Inc. (NYSE:SAH) Will Post Quarterly Sales of $2.56 Billion
Wall Street brokerages expect that Sonic Automotive, Inc. (NYSE:SAH) will report sales of $2.56 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sonic Automotive’s earnings, with the lowest sales estimate coming in at $2.53 billion and the highest estimate coming in at $2.58 billion. Sonic Automotive also reported sales of $2.56 billion in the same quarter last year. The firm is expected to announce its next quarterly earnings results on Tuesday, November 7th.
On average, analysts expect that Sonic Automotive will report full year sales of $2.56 billion for the current year, with estimates ranging from $9.82 billion to $9.92 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $9.90 billion per share, with estimates ranging from $9.78 billion to $10.03 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Sonic Automotive.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.06. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year.
SAH has been the topic of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price on shares of Sonic Automotive in a research note on Wednesday, May 3rd. TheStreet lowered shares of Sonic Automotive from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. ValuEngine lowered shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Morgan Stanley cut 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 note on Friday, June 9th. Finally, BidaskClub lowered shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.75.
Shares of Sonic Automotive (NYSE SAH) opened at 16.90 on Monday. Sonic Automotive has a 12 month low of $16.45 and a 12 month high of $27.45. The firm’s 50-day moving average is $18.53 and its 200-day moving average is $19.95. The company has a market cap of $741.25 million, a PE ratio of 11.37 and a beta of 1.51.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 14th. Sonic Automotive’s payout ratio is currently 13.42%.
A number of large investors have recently bought and sold shares of the company. Karp Capital Management Corp acquired a new stake in Sonic Automotive during the first quarter valued at approximately $211,000. UBS Asset Management Americas Inc. acquired a new stake in Sonic Automotive during the first quarter valued at approximately $243,000. Comerica Bank raised its stake in Sonic Automotive by 3.6% in the first quarter. Comerica Bank now owns 29,092 shares of the company’s stock valued at $596,000 after buying an additional 1,011 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Sonic Automotive by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 835,575 shares of the company’s stock valued at $16,753,000 after buying an additional 335,459 shares during the last quarter. Finally, LSV Asset Management raised its stake in Sonic Automotive by 12.5% in the first quarter. LSV Asset Management now owns 2,403,776 shares of the company’s stock valued at $48,195,000 after buying an additional 267,492 shares during the last quarter. 64.64% of the stock is currently owned by institutional investors and hedge funds.
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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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