Zacks: Brokerages Anticipate Sonic Automotive, Inc. (NYSE:SAH) to Post $2.53 EPS

Equities analysts predict that Sonic Automotive, Inc. (NYSE:SAHGet Rating) will announce earnings of $2.53 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Sonic Automotive’s earnings, with the lowest EPS estimate coming in at $2.21 and the highest estimate coming in at $2.77. Sonic Automotive posted earnings of $2.63 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.8%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Sonic Automotive will report full year earnings of $10.29 per share for the current fiscal year, with EPS estimates ranging from $9.75 to $10.81. For the next year, analysts anticipate that the business will post earnings of $9.05 per share, with EPS estimates ranging from $8.23 to $9.60. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAHGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $2.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.04). Sonic Automotive had a return on equity of 37.99% and a net margin of 2.81%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s quarterly revenue was up 28.7% on a year-over-year basis.

A number of brokerages recently issued reports on SAH. Seaport Res Ptn downgraded Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Friday. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. JPMorgan Chase & Co. downgraded Sonic Automotive from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $70.00 to $57.00 in a research report on Thursday, April 7th. Zacks Investment Research downgraded Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Thursday, March 10th. Finally, Morgan Stanley raised their price target on Sonic Automotive from $40.00 to $43.00 and gave the company an “underweight” rating in a research report on Tuesday, March 8th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, Sonic Automotive has an average rating of “Hold” and a consensus target price of $50.67.

Shares of SAH stock traded down $0.23 on Friday, reaching $42.55. The company’s stock had a trading volume of 621,691 shares, compared to its average volume of 542,685. The company has a quick ratio of 0.44, a current ratio of 1.10 and a debt-to-equity ratio of 1.53. Sonic Automotive has a 12-month low of $38.64 and a 12-month high of $58.00. The company has a market capitalization of $1.71 billion, a P/E ratio of 4.65 and a beta of 2.20. The stock’s 50 day simple moving average is $46.44 and its 200-day simple moving average is $48.44.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 2.35%. Sonic Automotive’s dividend payout ratio is currently 10.92%.

In other Sonic Automotive news, major shareholder Paul P. Rusnak bought 127,475 shares of the business’s stock in a transaction that occurred on Wednesday, April 6th. The shares were bought at an average cost of $41.89 per share, with a total value of $5,339,927.75. Following the completion of the purchase, the insider now directly owns 5,000,000 shares of the company’s stock, valued at $209,450,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Jeff Dyke sold 2,769 shares of Sonic Automotive stock in a transaction that occurred on Monday, March 7th. The shares were sold at an average price of $52.00, for a total value of $143,988.00. The disclosure for this sale can be found here. 36.07% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC boosted its position in Sonic Automotive by 4.7% during the 4th quarter. Capital Investment Advisory Services LLC now owns 4,482 shares of the company’s stock valued at $222,000 after acquiring an additional 200 shares in the last quarter. NorthCrest Asset Manangement LLC boosted its position in Sonic Automotive by 1.4% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 18,000 shares of the company’s stock valued at $765,000 after acquiring an additional 250 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Sonic Automotive during the 4th quarter valued at approximately $27,000. Dark Forest Capital Management LP bought a new stake in Sonic Automotive during the 3rd quarter valued at approximately $38,000. Finally, California State Teachers Retirement System boosted its position in Sonic Automotive by 2.6% during the 4th quarter. California State Teachers Retirement System now owns 30,703 shares of the company’s stock valued at $1,518,000 after acquiring an additional 775 shares in the last quarter. 56.65% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Company Profile (Get Rating)

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 for its guests.

Further Reading

Get a free copy of the Zacks research report on Sonic Automotive (SAH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

Receive News & Ratings for Sonic Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Automotive and related companies with MarketBeat.com's FREE daily email newsletter.