Sonic Automotive Inc (NYSE:SAH) Receives Consensus Rating of “Hold” from Analysts

Sonic Automotive Inc (NYSE:SAH) has received a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $20.80.

Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Stephens upgraded Sonic Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $30.00 in a research note on Wednesday, June 5th. TheStreet upgraded Sonic Automotive from a “c” rating to a “b” rating in a research note on Tuesday, May 28th. Morgan Stanley lifted their target price on Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, May 6th. Finally, ValuEngine upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th.

In other news, CFO Heath Byrd sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $23.60, for a total transaction of $354,000.00. Following the sale, the chief financial officer now owns 177,242 shares in the company, valued at $4,182,911.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.60% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Sonic Automotive by 4.7% during the fourth quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after purchasing an additional 189,881 shares during the period. Strs Ohio lifted its holdings in Sonic Automotive by 7.4% in the first quarter. Strs Ohio now owns 44,900 shares of the company’s stock valued at $664,000 after acquiring an additional 3,100 shares during the period. Texas Permanent School Fund lifted its holdings in Sonic Automotive by 4.4% in the first quarter. Texas Permanent School Fund now owns 16,163 shares of the company’s stock valued at $239,000 after acquiring an additional 683 shares during the period. Prudential Financial Inc. lifted its holdings in Sonic Automotive by 4.4% in the fourth quarter. Prudential Financial Inc. now owns 686,260 shares of the company’s stock valued at $9,443,000 after acquiring an additional 28,633 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Sonic Automotive by 27.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 36,164 shares of the company’s stock valued at $459,000 after acquiring an additional 7,857 shares during the period. Institutional investors and hedge funds own 60.76% of the company’s stock.

Shares of Sonic Automotive stock traded down $0.29 during trading on Tuesday, hitting $22.19. 410 shares of the stock traded hands, compared to its average volume of 324,775. The stock has a market cap of $968.44 million, a price-to-earnings ratio of 12.58, a P/E/G ratio of 3.62 and a beta of 1.64. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03. Sonic Automotive has a 52-week low of $12.78 and a 52-week high of $24.05. The firm’s fifty day moving average is $20.42.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.22 by $0.17. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.42 billion. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities research analysts anticipate that Sonic Automotive will post 2.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.80%. Sonic Automotive’s payout ratio is 22.60%.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.

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