Sonic Automotive (NYSE:SAH) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.08-1.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.08. Sonic Automotive also updated its Q3 2020
Pre-Market guidance to 1.08-1.15 EPS.
A number of brokerages recently issued reports on SAH. Zacks Investment Research restated a buy rating on shares of Sonic Automotive in a research note on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $38.00 to $39.00 and gave the stock a neutral rating in a research note on Wednesday, July 8th. ValuEngine upgraded shares of Sonic Automotive from a strong sell rating to a sell rating in a research note on Tuesday, September 1st. Morgan Stanley lifted their price target on shares of Sonic Automotive from $35.00 to $38.00 and gave the stock an equal weight rating in a research note on Wednesday, August 5th. Finally, Benchmark lifted their price target on shares of Sonic Automotive from $27.50 to $39.00 and gave the stock a buy rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $39.00.
Sonic Automotive stock opened at $41.33 on Tuesday. The company has a market cap of $1.76 billion, a PE ratio of -18.21 and a beta of 2.78. The company has a fifty day moving average price of $42.33 and a two-hundred day moving average price of $28.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.99 and a quick ratio of 0.32. Sonic Automotive has a 12 month low of $9.00 and a 12 month high of $46.50.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.33. Sonic Automotive had a negative net margin of 0.94% and a positive return on equity of 14.21%. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was down 19.2% on a year-over-year basis. Equities research analysts anticipate that Sonic Automotive will post 3.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, September 14th. Sonic Automotive’s dividend payout ratio (DPR) is 15.09%.
In other news, CFO Heath Byrd sold 11,935 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $35.00, for a total transaction of $417,725.00. Following the completion of the transaction, the chief financial officer now owns 141,801 shares of the company’s stock, valued at $4,963,035. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Bruton Smith sold 10,946 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $45.07, for a total transaction of $493,336.22. Following the transaction, the chief executive officer now directly owns 387,865 shares of the company’s stock, valued at approximately $17,481,075.55. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,445 shares of company stock valued at $3,262,467. Corporate insiders own 33.01% of the company’s stock.
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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