Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) have earned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $69.83.

SAH has been the subject of several recent analyst reports. Needham & Company LLC lowered their target price on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Citigroup initiated coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 target price for the company. StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Stephens raised their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th.

Sonic Automotive Price Performance

NYSE SAH opened at $61.15 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The firm's 50 day moving average price is $61.74 and its 200-day moving average price is $64.35. Sonic Automotive has a 52-week low of $51.27 and a 52-week high of $76.78. The company has a market cap of $2.06 billion, a PE ratio of 9.89 and a beta of 1.43.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Sonic Automotive's revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $1.36 earnings per share. Sell-side analysts forecast that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Sonic Automotive by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock valued at $98,658,000 after acquiring an additional 20,058 shares during the period. Millennium Management LLC boosted its position in Sonic Automotive by 3.9% during the fourth quarter. Millennium Management LLC now owns 476,107 shares of the company's stock worth $30,161,000 after purchasing an additional 17,965 shares in the last quarter. Northern Trust Corp boosted its position in Sonic Automotive by 6.7% during the fourth quarter. Northern Trust Corp now owns 291,133 shares of the company's stock worth $18,443,000 after purchasing an additional 18,232 shares in the last quarter. First Eagle Investment Management LLC boosted its position in Sonic Automotive by 12.4% during the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock worth $8,369,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Sonic Automotive by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 128,835 shares of the company's stock worth $8,162,000 after purchasing an additional 1,386 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

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.

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