Sonic Automotive, Inc. (SAH) To Go Ex-Dividend on March 14th

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Wednesday, February 12th,NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, March 14th.

Sonic Automotive has raised its dividend by an average of 39.6% per year over the last three years. Sonic Automotive has a dividend payout ratio of 18.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Sonic Automotive to earn $6.15 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.8%.

Sonic Automotive Stock Up 2.3 %

Shares of SAH opened at $73.44 on Friday. The firm has a 50 day simple moving average of $67.90 and a two-hundred day simple moving average of $62.64. The company has a market cap of $2.51 billion, a P/E ratio of 13.07 and a beta of 1.68. Sonic Automotive has a one year low of $47.82 and a one year high of $76.78. 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 (NYSE:SAH) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. Research analysts forecast that Sonic Automotive will post 5.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Stephens increased their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. cut their price objective on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Needham & Company LLC upped their target price on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.00.

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.