Shares of Sonic Automotive Inc (NYSE:SAH) have been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $22.75.
SAH has been the subject of several recent research reports. ValuEngine upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut Sonic Automotive from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, Bank of America upgraded Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 target price for the company in a research note on Monday, January 8th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAH. Public Employees Retirement System of Ohio lifted its stake in Sonic Automotive by 7.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,515 shares of the company’s stock worth $185,000 after purchasing an additional 624 shares during the last quarter. Jane Street Group LLC bought a new stake in Sonic Automotive during the third quarter worth $260,000. MetLife Investment Advisors LLC bought a new stake in Sonic Automotive during the fourth quarter worth $271,000. Voya Investment Management LLC lifted its stake in Sonic Automotive by 14.1% during the second quarter. Voya Investment Management LLC now owns 14,478 shares of the company’s stock worth $282,000 after purchasing an additional 1,790 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its stake in Sonic Automotive by 53.7% during the third quarter. BNP Paribas Arbitrage SA now owns 14,385 shares of the company’s stock worth $293,000 after purchasing an additional 5,026 shares during the last quarter. Hedge funds and other institutional investors own 62.96% of the company’s stock.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Sonic Automotive had a return on equity of 11.17% and a net margin of 0.94%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. research analysts predict that Sonic Automotive will post 2.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 14th. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.20%. Sonic Automotive’s dividend payout ratio is presently 9.43%.
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About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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