Sonic Automotive (NYSE:SAH) had its target price reduced by JPMorgan Chase & Co. from $37.00 to $35.00 in a report released on Thursday, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
Several other analysts also recently weighed in on SAH. Morgan Stanley upgraded shares of Sonic Automotive from an underweight rating to an equal rating and lifted their price objective for the company from $22.00 to $31.00 in a research report on Thursday, November 14th. ValuEngine upgraded shares of Sonic Automotive from a strong sell rating to a sell rating in a research report on Thursday, December 12th. Finally, Stephens set a $40.00 price objective on shares of Sonic Automotive and gave the company a buy rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Sonic Automotive has an average rating of Hold and an average target price of $31.00.
Shares of NYSE:SAH opened at $28.10 on Thursday. The company has a market cap of $1.25 billion, a PE ratio of 8.54, a P/E/G ratio of 3.29 and a beta of 1.85. The company’s 50-day moving average price is $31.03 and its 200 day moving average price is $30.50. Sonic Automotive has a fifty-two week low of $13.70 and a fifty-two week high of $35.41. The company has a quick ratio of 0.25, a current ratio of 1.04 and a debt-to-equity ratio of 1.31.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.97 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.74 billion. Sonic Automotive had a net margin of 1.38% and a return on equity of 13.21%. Sonic Automotive’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.76 EPS. As a group, equities analysts anticipate that Sonic Automotive will post 2.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. Sonic Automotive’s dividend payout ratio (DPR) is 15.09%.
Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of Sonic Automotive by 4.9% during the 3rd quarter. State Street Corp now owns 963,948 shares of the company’s stock worth $30,372,000 after buying an additional 45,195 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Sonic Automotive during the 3rd quarter worth about $1,727,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Sonic Automotive during the 4th quarter worth about $369,000. Rhumbline Advisers raised its position in shares of Sonic Automotive by 5.6% during the 3rd quarter. Rhumbline Advisers now owns 93,596 shares of the company’s stock worth $2,940,000 after buying an additional 5,003 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Sonic Automotive by 2.0% during the 3rd quarter. Comerica Bank now owns 22,534 shares of the company’s stock worth $742,000 after buying an additional 452 shares in the last quarter. Institutional investors own 60.01% 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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