Sonic Automotive (SAH) Set to Announce Earnings on Thursday

Sonic Automotive (NYSE:SAH) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, October 24th. Analysts expect Sonic Automotive to post earnings of $1.51 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Monday, August 5th. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.38 by $0.09. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.56 billion. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. On average, analysts expect Sonic Automotive to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $54.83 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $1.87 billion, a P/E ratio of 10.13 and a beta of 1.60. The business has a fifty day simple moving average of $57.95 and a two-hundred day simple moving average of $56.55. Sonic Automotive has a 12 month low of $42.57 and a 12 month high of $64.68.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, September 13th. Sonic Automotive’s dividend payout ratio is currently 22.18%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SAH. Needham & Company LLC began coverage on Sonic Automotive in a report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target for the company. Bank of America reduced their price target on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $40.00 to $58.00 in a report on Wednesday, September 25th. Stephens began coverage on Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Sonic Automotive presently has an average rating of “Moderate Buy” and an average price target of $66.33.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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.