Sonic Automotive (NYSE:SAH) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Sonic Automotive (NYSE:SAH) announced its quarterly earnings data on Wednesday. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05, Zacks reports. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%.

Sonic Automotive Stock Performance

SAH opened at $71.62 on Thursday. The firm has a fifty day moving average price of $67.79 and a 200 day moving average price of $62.56. Sonic Automotive has a 1 year low of $47.82 and a 1 year high of $76.78. The stock has a market cap of $2.45 billion, a P/E ratio of 12.74 and a beta of 1.68. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.95%. Sonic Automotive’s payout ratio is 24.91%.

Wall Street Analyst Weigh In

SAH has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their price target on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Stephens upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC increased their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $72.40.

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.