Sonic Automotive Inc (SAH) Receives Consensus Rating of “Hold” from Brokerages

Sonic Automotive Inc (NYSE:SAH) has earned a consensus rating of “Hold” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $23.25.

A number of analysts recently commented on the company. ValuEngine lowered Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a research note on Tuesday, January 9th. Bank of America raised Sonic Automotive from an “underperform” rating to a “neutral” rating and set a $23.00 price objective on the stock in a research note on Monday, January 8th. Finally, Morgan Stanley increased their price objective on Sonic Automotive from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, March 14th.

Large investors have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new stake in Sonic Automotive in the 4th quarter worth about $271,000. Cubist Systematic Strategies LLC acquired a new stake in Sonic Automotive in the 3rd quarter worth about $315,000. Stone Ridge Asset Management LLC acquired a new stake in Sonic Automotive in the 4th quarter worth about $297,000. Crossmark Global Holdings Inc. boosted its stake in Sonic Automotive by 16.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 20,056 shares of the company’s stock worth $370,000 after buying an additional 2,873 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its stake in Sonic Automotive by 699.4% in the 4th quarter. Pinebridge Investments L.P. now owns 24,941 shares of the company’s stock worth $460,000 after buying an additional 21,821 shares during the last quarter. 63.60% of the stock is currently owned by hedge funds and other institutional investors.

SAH opened at $20.20 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.22 and a debt-to-equity ratio of 1.31. The firm has a market cap of $839.78, a P/E ratio of 10.92, a P/E/G ratio of 2.93 and a beta of 1.60. Sonic Automotive has a 52 week low of $15.95 and a 52 week high of $22.75.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, April 26th. The company reported $0.26 EPS for the quarter, meeting analysts’ consensus estimates of $0.26. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. Sonic Automotive had a return on equity of 11.09% and a net margin of 0.92%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. equities analysts predict that Sonic Automotive will post 2.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, June 14th. Sonic Automotive’s payout ratio is 12.97%.

Sonic Automotive Company Profile

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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