Wall Street analysts expect Sonic Corp. (NASDAQ:SONC) to post $126.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Sonic Corp.’s earnings. The highest sales estimate is $127.80 million and the lowest is $124.59 million. Sonic Corp. reported sales of $162.12 million during the same quarter last year, which indicates a negative year over year growth rate of 22.1%. The company is scheduled to announce its next quarterly earnings results on Monday, October 23rd.

On average, analysts expect that Sonic Corp. will report full year sales of $126.26 million for the current financial year, with estimates ranging from $478.29 million to $481.50 million. For the next fiscal year, analysts forecast that the company will post sales of $459.66 million per share, with estimates ranging from $441.48 million to $475.28 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Sonic Corp..

Sonic Corp. (NASDAQ:SONC) last released 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. Sonic Corp. had a negative return on equity of 44.21% and a net margin of 13.23%. The firm had revenue of $124 million for the quarter, compared to analyst estimates of $122.58 million. During the same quarter last year, the company posted $0.43 earnings per share. The business’s revenue was down 24.9% on a year-over-year basis.

Several research firms recently weighed in on SONC. BidaskClub lowered shares of Sonic Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of Sonic Corp. in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of Sonic Corp. from a “sell” rating to a “hold” rating in a research note on Saturday, May 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $32.00 price objective on shares of Sonic Corp. in a research note on Wednesday, July 26th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $30.00 price objective on shares of Sonic Corp. in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $27.75.

In related news, Director Steven A. Davis acquired 2,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was acquired at an average cost of $24.62 per share, for a total transaction of $49,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.24% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC boosted its position in Sonic Corp. by 4.8% in the first quarter. Parametric Portfolio Associates LLC now owns 65,529 shares of the restaurant operator’s stock valued at $1,662,000 after buying an additional 3,025 shares during the period. TD Asset Management Inc. boosted its position in Sonic Corp. by 4.8% in the first quarter. TD Asset Management Inc. now owns 72,561 shares of the restaurant operator’s stock valued at $1,840,000 after buying an additional 3,300 shares during the period. Karp Capital Management Corp bought a new position in Sonic Corp. during the first quarter valued at about $209,000. Teza Capital Management LLC bought a new position in Sonic Corp. during the first quarter valued at about $440,000. Finally, BNP Paribas Arbitrage SA boosted its position in Sonic Corp. by 1.4% in the first quarter. BNP Paribas Arbitrage SA now owns 15,327 shares of the restaurant operator’s stock valued at $389,000 after buying an additional 213 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

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Sonic Corp. (NASDAQ SONC) opened at 23.76 on Wednesday. The company’s 50 day moving average price is $25.05 and its 200-day moving average price is $26.09. The stock has a market cap of $993.38 million, a price-to-earnings ratio of 15.84 and a beta of 1.74. Sonic Corp. has a 12-month low of $21.12 and a 12-month high of $30.05.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Wednesday, August 9th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, August 7th. Sonic Corp.’s dividend payout ratio (DPR) is presently 37.33%.

Sonic Corp. declared that its board has initiated a stock repurchase plan on Wednesday, August 9th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 16.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Sonic Corp. Company Profile

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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Earnings History and Estimates for Sonic Corp. (NASDAQ:SONC)

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