Sonic Co. (NASDAQ:SONC) declared a quarterly dividend on Friday, January 12th, RTT News reports. Stockholders of record on Wednesday, February 7th will be paid a dividend of 0.16 per share by the restaurant operator on Friday, February 16th. This represents a $0.64 annualized dividend and a dividend yield of 2.38%.

Shares of Sonic (NASDAQ SONC) traded down $0.32 during mid-day trading on Friday, hitting $26.87. The stock had a trading volume of 1,143,600 shares, compared to its average volume of 1,567,475. The firm has a market cap of $1,030.00, a PE ratio of 18.40, a PEG ratio of 1.38 and a beta of 1.73. The company has a current ratio of 1.81, a quick ratio of 1.48 and a debt-to-equity ratio of -2.87. Sonic has a fifty-two week low of $22.11 and a fifty-two week high of $30.05.

Sonic (NASDAQ:SONC) last issued its quarterly earnings data on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.86 million. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. research analysts expect that Sonic will post 1.39 EPS for the current year.

Several equities analysts have recently issued reports on the company. Oppenheimer reissued a “buy” rating and issued a $29.00 price objective on shares of Sonic in a report on Friday, October 6th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $31.00 price target (up previously from $27.00) on shares of Sonic in a report on Friday, January 5th. Citigroup started coverage on Sonic in a report on Monday, September 18th. They issued a “buy” rating and a $28.00 price target for the company. Zacks Investment Research cut Sonic from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Finally, Cowen reaffirmed a “neutral” rating on shares of Sonic in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.36.

In other Sonic news, VP Carolyn C. Cummins sold 2,347 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $25.43, for a total transaction of $59,684.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank E. Richardson III sold 3,670 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $28.21, for a total value of $103,530.70. Following the sale, the director now owns 1,061,699 shares of the company’s stock, valued at $29,950,528.79. The disclosure for this sale can be found here. Insiders sold a total of 167,587 shares of company stock valued at $4,537,647 in the last ninety days. 8.28% of the stock is currently owned by insiders.

Sonic declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $160.00 million in shares. This repurchase authorization authorizes the restaurant operator to buy up to 14.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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Sonic 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.

Dividend History for Sonic (NASDAQ:SONC)

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