Sonic Corp. (NASDAQ:SONC) – William Blair upped their Q1 2017 earnings per share estimates for shares of Sonic Corp. in a research report issued to clients and investors on Tuesday. William Blair analyst S. Zackfia now forecasts that the firm will post earnings per share of $0.26 for the quarter, up from their previous estimate of $0.24. William Blair also issued estimates for Sonic Corp.’s Q4 2017 earnings at $0.52 EPS and FY2018 earnings at $1.55 EPS.
Several other equities analysts also recently commented on the stock. Canaccord Genuity reissued a “buy” rating and issued a $32.00 price objective (down previously from $35.00) on shares of Sonic Corp. in a research note on Friday, September 30th. Zacks Investment Research downgraded shares of Sonic Corp. from a “hold” rating to a “sell” rating in a research note on Friday, September 30th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $33.00 price objective (down previously from $40.00) on shares of Sonic Corp. in a research note on Wednesday, September 28th. Barclays PLC dropped their price objective on shares of Sonic Corp. from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, September 28th. Finally, Jefferies Group dropped their price objective on shares of Sonic Corp. from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, September 28th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Sonic Corp. currently has a consensus rating of “Buy” and a consensus target price of $34.01.
Shares of Sonic Corp. (NASDAQ:SONC) traded up 2.04% during trading on Wednesday, reaching $26.04. 331,540 shares of the company were exchanged. The stock’s 50-day moving average is $26.45 and its 200-day moving average is $29.38. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 20.26 and a beta of 1.20. Sonic Corp. has a 52-week low of $24.91 and a 52-week high of $36.34.
A number of large investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Sonic Corp. during the second quarter worth approximately $123,000. BlackRock Inc. boosted its stake in Sonic Corp. by 127.1% in the first quarter. BlackRock Inc. now owns 3,826 shares of the company’s stock worth $134,000 after buying an additional 2,141 shares during the last quarter. Societe Generale bought a new stake in Sonic Corp. during the second quarter worth approximately $141,000. SG Americas Securities LLC bought a new stake in Sonic Corp. during the second quarter worth approximately $141,000. Finally, FNY Managed Accounts LLC bought a new stake in Sonic Corp. during the third quarter worth approximately $147,000. Institutional investors and hedge funds own 98.12% of the company’s stock.
About Sonic Corp.
Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3,512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack.
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