Sonic Automotive, Inc. (SAH) to Issue Quarterly Dividend of $0.41 on July 15th

Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Thursday, April 30th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.41 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, June 15th. This is a 7.9% increase from Sonic Automotive’s previous quarterly dividend of $0.38.

Sonic Automotive has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Sonic Automotive has a dividend payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sonic Automotive to earn $7.48 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 21.9%.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $84.63 on Friday. The firm has a market cap of $2.67 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.93 and a beta of 0.88. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 1.93. Sonic Automotive has a 12 month low of $54.11 and a 12 month high of $89.62. The stock’s fifty day moving average price is $75.58 and its 200-day moving average price is $67.33.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.40 by $0.22. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Sonic Automotive had a return on equity of 22.45% and a net margin of 0.72%.The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.48 earnings per share. On average, equities research analysts expect that Sonic Automotive will post 6.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SAH shares. Bank of America started coverage on Sonic Automotive in a research note on Wednesday, March 4th. They set a “neutral” rating on the stock. Morgan Stanley set a $72.00 price target on Sonic Automotive in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of Sonic Automotive in a research note on Friday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Sonic Automotive in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. raised their price objective on Sonic Automotive from $67.00 to $77.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.00.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.