Sonic Automotive, Inc. (NYSE:SAH) Expected to Announce Earnings of $2.58 Per Share

Equities research analysts expect Sonic Automotive, Inc. (NYSE:SAHGet Rating) to post earnings per share (EPS) of $2.58 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Sonic Automotive’s earnings. The lowest EPS estimate is $2.34 and the highest is $2.77. Sonic Automotive posted earnings of $2.63 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.9%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Sonic Automotive will report full-year earnings of $10.26 per share for the current fiscal year, with EPS estimates ranging from $9.75 to $10.81. For the next fiscal year, analysts forecast that the firm will post earnings of $8.99 per share, with EPS estimates ranging from $8.23 to $9.60. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover 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 analysts’ consensus estimates of $2.45 by ($0.12). Sonic Automotive had a net margin of 2.97% and a return on equity of 39.37%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the business posted $1.23 earnings per share. The firm’s revenue was up 28.7% compared to the same quarter last year.

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Zacks Investment Research cut Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a report on Thursday, March 10th. Seaport Res Ptn lowered Sonic Automotive from a “buy” rating to a “neutral” rating in a research report on Friday, April 29th. Morgan Stanley lifted their price target on shares of Sonic Automotive from $40.00 to $43.00 and gave the company an “underweight” rating in a research note on Tuesday, March 8th. Finally, JPMorgan Chase & Co. lowered shares of Sonic Automotive from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $57.00 in a report on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.67.

In other Sonic Automotive news, President Jeff Dyke sold 6,395 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $52.37, for a total transaction of $334,906.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Paul P. Rusnak purchased 127,475 shares of the stock in a transaction dated Wednesday, April 6th. The stock was acquired at an average cost of $41.89 per share, for a total transaction of $5,339,927.75. Following the completion of the transaction, the insider now owns 5,000,000 shares of the company’s stock, valued at approximately $209,450,000. The disclosure for this purchase can be found here. 36.07% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of SAH. First Trust Advisors LP boosted its stake in Sonic Automotive by 2.1% in the 1st quarter. First Trust Advisors LP now owns 43,986 shares of the company’s stock worth $651,000 after purchasing an additional 885 shares during the period. Morgan Stanley raised its holdings in shares of Sonic Automotive by 63.5% in the 2nd quarter. Morgan Stanley now owns 237,695 shares of the company’s stock valued at $10,633,000 after purchasing an additional 92,316 shares during the period. Deutsche Bank AG raised its holdings in shares of Sonic Automotive by 81.6% in the 3rd quarter. Deutsche Bank AG now owns 37,995 shares of the company’s stock valued at $1,996,000 after purchasing an additional 17,071 shares during the period. PNC Financial Services Group Inc. raised its holdings in Sonic Automotive by 25.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,430 shares of the company’s stock valued at $497,000 after acquiring an additional 1,907 shares during the period. Finally, BlackRock Inc. grew its position in shares of Sonic Automotive by 2.1% during the 3rd quarter. BlackRock Inc. now owns 4,050,565 shares of the company’s stock worth $212,816,000 after purchasing an additional 82,552 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

Shares of SAH stock traded down $2.31 on Friday, hitting $45.37. 5,774 shares of the company’s stock were exchanged, compared to its average volume of 462,049. The stock has a market cap of $1.79 billion, a P/E ratio of 5.21 and a beta of 2.05. The company has a 50 day moving average of $45.06 and a 200 day moving average of $47.92. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.10 and a quick ratio of 0.46. Sonic Automotive has a 12 month low of $38.64 and a 12 month high of $58.00.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.20%. Sonic Automotive’s payout ratio is 10.92%.

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.

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

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