According to Zacks, “Sonic Automotive’s earnings estimates have been going down lately. The company has a mixed record of earnings surprises in recent quarters. The company’s extensive merchandise inventory raises concerns. Moreover, a highly competitive industry and fluctuations in foreign exchange rate remain headwinds. “
Shares of Sonic Automotive (NYSE:SAH) opened at 19.05 on Thursday. The company has a 50 day moving average price of $18.08 and a 200 day moving average price of $17.62. The company has a market capitalization of $865.77 million, a P/E ratio of 9.69 and a beta of 1.81. Sonic Automotive has a 12-month low of $15.68 and a 12-month high of $25.77.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Sonic Automotive had a return on equity of 14.65% and a net margin of 0.99%. The firm earned $2.38 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Sonic Automotive will post $2.10 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, September 15th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.05%. The ex-dividend date was Tuesday, September 13th. Sonic Automotive’s payout ratio is currently 10.26%.
In related news, insider O Bruton Smith bought 50,000 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was bought at an average cost of $16.74 per share, for a total transaction of $837,000.00. Following the acquisition, the insider now directly owns 475,242 shares in the company, valued at $7,955,551.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 29.32% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. HBK Investments L P bought a new stake in shares of Sonic Automotive during the first quarter valued at about $985,000. Menta Capital LLC bought a new stake in shares of Sonic Automotive during the first quarter valued at about $410,000. LSV Asset Management boosted its stake in shares of Sonic Automotive by 14.8% in the second quarter. LSV Asset Management now owns 1,384,131 shares of the company’s stock valued at $23,682,000 after buying an additional 178,025 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Sonic Automotive by 14.5% in the second quarter. OLD National Bancorp IN now owns 11,903 shares of the company’s stock valued at $204,000 after buying an additional 1,511 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Sonic Automotive by 16.1% in the second quarter. Suntrust Banks Inc. now owns 100,235 shares of the company’s stock valued at $1,714,000 after buying an additional 13,874 shares during the last quarter. Institutional investors own 65.87% of the company’s stock.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. The Company’s Franchised Dealerships segment consists of traditional retail automotive franchises that sell new and used vehicles, replacement parts and vehicle repair and maintenance services, and finance and insurance products.
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