Seaport Res Ptn Analysts Lower Earnings Estimates for SAH

Sonic Automotive, Inc. (NYSE:SAH) – Stock analysts at Seaport Res Ptn dropped their Q3 2024 earnings per share (EPS) estimates for Sonic Automotive in a note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $1.38 per share for the quarter, down from their prior forecast of $1.58. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.67 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q4 2024 earnings at $1.49 EPS and FY2025 earnings at $6.16 EPS.

A number of other research firms have also recently issued reports on SAH. Stephens started coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective for the company. Morgan Stanley upgraded shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. 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 objective on the stock. Bank of America lowered their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.33.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $55.47 on Tuesday. The stock has a market cap of $1.88 billion, a PE ratio of 11.37 and a beta of 1.60. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04. Sonic Automotive has a 12-month low of $42.57 and a 12-month high of $64.68. The business’s 50-day moving average price is $57.82 and its two-hundred day moving average price is $56.57.

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. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis.

Institutional Trading of Sonic Automotive

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in shares of Sonic Automotive by 524.4% during the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company’s stock valued at $5,480,000 after acquiring an additional 84,489 shares in the last quarter. Squarepoint Ops LLC increased its stake in Sonic Automotive by 679.8% during the 2nd quarter. Squarepoint Ops LLC now owns 95,006 shares of the company’s stock valued at $5,175,000 after purchasing an additional 82,823 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Sonic Automotive by 12.6% during the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock worth $35,898,000 after buying an additional 70,540 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Sonic Automotive by 831.1% in the second quarter. Marshall Wace LLP now owns 35,969 shares of the company’s stock valued at $1,959,000 after buying an additional 32,106 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Sonic Automotive in the second quarter valued at $1,351,000. Institutional investors own 46.92% of the company’s stock.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were given a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.16%. Sonic Automotive’s payout ratio is 24.59%.

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.