Seaport Res Ptn Weighs in on Sonic Automotive, Inc.’s Q1 2024 Earnings (NYSE:SAH)

Sonic Automotive, Inc. (NYSE:SAH) – Seaport Res Ptn cut their Q1 2024 earnings per share (EPS) estimates for Sonic Automotive in a research note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $1.10 per share for the quarter, down from their previous estimate of $1.25. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.75 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q2 2024 earnings at $1.61 EPS, Q3 2024 earnings at $1.45 EPS, Q4 2024 earnings at $1.39 EPS and FY2025 earnings at $6.55 EPS.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Wednesday, February 14th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.17). The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. Sonic Automotive had a net margin of 1.24% and a return on equity of 28.06%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.61 EPS.

Several other equities research analysts also recently commented on SAH. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Morgan Stanley upped their price target on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Bank of America decreased their price target on Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a report on Thursday, February 29th. Finally, TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.40.

Sonic Automotive Trading Up 3.0 %

NYSE SAH opened at $50.87 on Monday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 10.23 and a beta of 1.82. Sonic Automotive has a 52 week low of $39.02 and a 52 week high of $60.24. The business has a 50 day moving average price of $52.38 and a 200-day moving average price of $51.84. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.36%. Sonic Automotive’s dividend payout ratio is currently 24.14%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SAH. Allspring Global Investments Holdings LLC purchased a new position in shares of Sonic Automotive during the 1st quarter valued at $30,000. TFO Wealth Partners LLC lifted its position in shares of Sonic Automotive by 35,366.7% during the 4th quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after buying an additional 2,122 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Sonic Automotive during the 3rd quarter valued at $135,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sonic Automotive by 16.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,132 shares of the company’s stock valued at $176,000 after buying an additional 447 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Sonic Automotive during the 4th quarter valued at $185,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

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.