Sonic Automotive (NYSE:SAH) Trading Down 2.8%

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) traded down 2.8% on Thursday . The company traded as low as $49.25 and last traded at $49.58. 22,553 shares traded hands during trading, a decline of 89% from the average session volume of 208,398 shares. The stock had previously closed at $51.01.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America decreased their price objective on Sonic Automotive from $60.00 to $55.00 and set an "underperform" rating on the stock in a report on Thursday, February 29th. TheStreet upgraded shares of Sonic Automotive from a "c+" rating to a "b" rating in a research note on Wednesday, March 6th. Morgan Stanley lifted their target price on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an "underweight" rating in a research note on Thursday, February 29th. Finally, StockNews.com cut shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Sonic Automotive currently has an average rating of "Hold" and a consensus target price of $53.40.

Sonic Automotive Stock Down 1.3 %

The company has a debt-to-equity ratio of 2.10, a current ratio of 1.10 and a quick ratio of 0.41. The business's 50 day moving average price is $53.23 and its 200-day moving average price is $51.62. The company has a market cap of $1.71 billion, a P/E ratio of 10.13 and a beta of 1.82.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter last year, the firm earned $2.61 EPS. The business's revenue for the quarter was down .2% on a year-over-year basis. On average, analysts anticipate that Sonic Automotive, Inc. will post 5.75 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.38%. The ex-dividend date is Thursday, March 14th. Sonic Automotive's dividend payout ratio (DPR) is presently 24.14%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SAH. Westwood Holdings Group Inc. bought a new stake in shares of Sonic Automotive during the 4th quarter valued at $31,473,000. Balyasny Asset Management LLC raised its position in shares of Sonic Automotive by 411.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 633,755 shares of the company's stock valued at $27,442,000 after acquiring an additional 509,855 shares during the last quarter. Millennium Management LLC raised its position in shares of Sonic Automotive by 1,726.2% during the 2nd quarter. Millennium Management LLC now owns 456,311 shares of the company's stock valued at $16,715,000 after acquiring an additional 431,324 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Sonic Automotive during the 1st quarter valued at $28,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Sonic Automotive by 1,841.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 301,526 shares of the company's stock valued at $14,401,000 after acquiring an additional 285,999 shares during the last quarter. 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.