Sonic Automotive (NYSE:SAH – Get Free Report) released its quarterly earnings results on Monday. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09, Briefing.com reports. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.83 earnings per share.
Sonic Automotive Price Performance
Shares of SAH opened at $57.52 on Wednesday. The firm has a market capitalization of $1.95 billion, a PE ratio of 11.79 and a beta of 1.61. The stock has a 50 day simple moving average of $56.10 and a 200 day simple moving average of $54.72. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive has a 52-week low of $41.19 and a 52-week high of $64.68.
Sonic Automotive Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.30 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.09%. Sonic Automotive’s dividend payout ratio is presently 24.59%.
Insider Buying and Selling at Sonic Automotive
Wall Street Analysts Forecast Growth
A number of analysts recently commented on SAH shares. Bank of America lowered their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. upgraded Sonic Automotive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $63.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.00.
Check Out Our Latest Stock Report on SAH
Sonic Automotive Company Profile
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.
See Also
- Five stocks we like better than Sonic Automotive
- What is a Bond Market Holiday? How to Invest and Trade
- Stocks Slide: Trillions Lost, More Downside Ahead?
- Why Are Stock Sectors Important to Successful Investing?
- Lucid Group Stock Gains Traction, But Its Stock Price Won’t
- How to Use the MarketBeat Dividend Calculator
- 3 Promising Small-Cap AI Stocks for the Next Market Rally
Receive News & Ratings for Sonic Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Automotive and related companies with MarketBeat.com's FREE daily email newsletter.