Sonic Automotive, Inc. (SAH) To Go Ex-Dividend on December 15th

Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Thursday, October 23rd. Investors of record on Monday, December 15th will be given a dividend of 0.38 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 15th.

Sonic Automotive has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $7.51 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 18.6%.

Sonic Automotive Price Performance

SAH stock opened at $64.55 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.24 and a current ratio of 1.03. Sonic Automotive has a 52 week low of $52.00 and a 52 week high of $89.62. The firm’s fifty day moving average is $77.82 and its 200 day moving average is $74.14. The firm has a market cap of $2.20 billion, a P/E ratio of 17.45 and a beta of 0.95.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 23rd. The company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.41). The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.59 billion. Sonic Automotive had a net margin of 0.86% and a return on equity of 21.69%. Sonic Automotive’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.26 EPS. Research analysts predict that Sonic Automotive will post 6.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC raised its holdings in Sonic Automotive by 1.9% in the 1st quarter. Voya Investment Management LLC now owns 7,451 shares of the company’s stock worth $424,000 after purchasing an additional 136 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Sonic Automotive by 3.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,509 shares of the company’s stock worth $362,000 after acquiring an additional 165 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Sonic Automotive by 0.9% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 23,141 shares of the company’s stock worth $1,850,000 after acquiring an additional 205 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Sonic Automotive by 2.0% in the 1st quarter. Russell Investments Group Ltd. now owns 22,581 shares of the company’s stock worth $1,286,000 after acquiring an additional 442 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

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.