Sonic Automotive, Inc. to Issue Quarterly Dividend of $0.05 (SAH)
Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.05 per share on Friday, January 12th. This represents a $0.20 dividend on an annualized basis and a yield of 1.05%.
Sonic Automotive has raised its dividend payment by an average of 35.7% annually over the last three years. Sonic Automotive has a dividend payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 10.3%.
Sonic Automotive (NYSE:SAH) opened at 19.10 on Tuesday. Sonic Automotive has a 52 week low of $15.95 and a 52 week high of $27.45. The firm has a 50-day moving average price of $19.69 and a 200-day moving average price of $18.86. The stock has a market cap of $837.75 million, a P/E ratio of 12.85 and a beta of 1.51.
Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Monday, October 30th. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.16). The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. Sonic Automotive’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. On average, equities research analysts predict that Sonic Automotive will post $1.85 EPS for the current year.
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SAH has been the subject of several analyst reports. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, October 18th. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. KeyCorp restated a “hold” rating on shares of Sonic Automotive in a report on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and issued a $22.00 price objective on shares of Sonic Automotive in a report on Wednesday, July 19th. Finally, BidaskClub cut Sonic Automotive from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.75.
About Sonic Automotive
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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