Sonic Automotive (NYSE:SAH) updated its third quarter earnings guidance on Tuesday. The company provided EPS guidance of $1.08-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.08. Sonic Automotive also updated its Q3 2020
Pre-Market guidance to 1.08-1.15 EPS.
Several research firms recently commented on SAH. Zacks Investment Research reaffirmed a buy rating on shares of Sonic Automotive in a report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price objective on shares of Sonic Automotive from $38.00 to $39.00 and gave the stock a neutral rating in a report on Wednesday, July 8th. Benchmark raised their price objective on shares of Sonic Automotive from $27.50 to $39.00 and gave the stock a buy rating in a report on Wednesday, June 17th. ValuEngine raised shares of Sonic Automotive from a strong sell rating to a sell rating in a report on Tuesday, September 1st. Finally, Morgan Stanley raised their price objective on shares of Sonic Automotive from $35.00 to $38.00 and gave the stock an equal weight rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $39.00.
NYSE SAH opened at $41.33 on Tuesday. Sonic Automotive has a 1 year low of $9.00 and a 1 year high of $46.50. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.99 and a quick ratio of 0.32. The stock has a market capitalization of $1.76 billion, a PE ratio of -18.21 and a beta of 2.78. The company’s 50 day simple moving average is $42.33 and its two-hundred day simple moving average is $28.70.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, July 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.33. Sonic Automotive had a negative net margin of 0.94% and a positive return on equity of 14.21%. The business had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was down 19.2% compared to the same quarter last year. On average, research analysts anticipate that Sonic Automotive will post 3.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.97%. The ex-dividend date is Monday, September 14th. Sonic Automotive’s dividend payout ratio is presently 15.09%.
In other news, CEO David Bruton Smith sold 5,999 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $45.00, for a total transaction of $269,955.00. Following the sale, the chief executive officer now owns 387,865 shares in the company, valued at approximately $17,453,925. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Heath Byrd sold 11,935 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $35.00, for a total transaction of $417,725.00. Following the sale, the chief financial officer now owns 141,801 shares in the company, valued at approximately $4,963,035. The disclosure for this sale can be found here. Insiders sold a total of 81,445 shares of company stock worth $3,262,467 over the last quarter. Corporate insiders own 33.01% of the company’s stock.
About Sonic Automotive
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.
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