$0.47 Earnings Per Share Expected for Sonic Automotive Inc (NYSE:SAH) This Quarter

Equities research analysts expect Sonic Automotive Inc (NYSE:SAH) to report earnings of $0.47 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Sonic Automotive’s earnings, with estimates ranging from $0.42 to $0.51. Sonic Automotive posted earnings of $0.35 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 34.3%. The firm is expected to issue its next quarterly earnings report on Friday, July 26th.

On average, analysts expect that Sonic Automotive will report full year earnings of $2.07 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $2.25. For the next financial year, analysts anticipate that the company will post earnings of $2.14 per share, with EPS estimates ranging from $1.95 to $2.28. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Sonic Automotive.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.17. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. Sonic Automotive’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS.

A number of brokerages recently weighed in on SAH. Stephens raised Sonic Automotive from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $30.00 in a research note on Wednesday, June 5th. TheStreet raised Sonic Automotive from a “c” rating to a “b” rating in a research note on Tuesday, May 28th. Morgan Stanley lifted their price target on Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, May 6th. Bank of America raised Sonic Automotive from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Friday, April 26th. Finally, ValuEngine raised Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.33.

SAH traded up $0.50 during trading on Wednesday, reaching $22.67. The company had a trading volume of 291,154 shares, compared to its average volume of 237,730. The company has a 50-day moving average of $20.45. The firm has a market capitalization of $968.44 million, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 3.62 and a beta of 1.64. Sonic Automotive has a 12-month low of $12.78 and a 12-month high of $24.05. The company has a current ratio of 1.03, a quick ratio of 0.25 and a debt-to-equity ratio of 1.03.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.76%. Sonic Automotive’s payout ratio is presently 22.60%.

In other Sonic Automotive news, CFO Heath Byrd sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $23.60, for a total transaction of $354,000.00. Following the completion of the sale, the chief financial officer now directly owns 177,242 shares in the company, valued at approximately $4,182,911.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 31.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA boosted its position in Sonic Automotive by 291.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,689 shares of the company’s stock worth $99,000 after acquiring an additional 4,980 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Sonic Automotive by 436.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,786 shares of the company’s stock valued at $121,000 after buying an additional 7,148 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Sonic Automotive during the 4th quarter valued at about $124,000. GSA Capital Partners LLP acquired a new stake in shares of Sonic Automotive during the 4th quarter valued at about $150,000. Finally, Texas Permanent School Fund lifted its holdings in shares of Sonic Automotive by 4.4% during the 1st quarter. Texas Permanent School Fund now owns 16,163 shares of the company’s stock valued at $239,000 after buying an additional 683 shares during the last quarter. Hedge funds and other institutional investors own 60.76% of the company’s stock.

Sonic Automotive Company Profile

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

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