A number of other equities analysts also recently weighed in on SONC. Barclays PLC decreased their target price 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. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $40.00 target price on shares of Sonic Corp. in a research note on Wednesday, August 10th. Jefferies Group reissued a hold rating on shares of Sonic Corp. in a research report on Thursday, August 4th. Canaccord Genuity reissued a buy rating and set a $35.00 price target on shares of Sonic Corp. in a research report on Friday, September 9th. Finally, Telsey Advisory Group reduced their price target on shares of Sonic Corp. from $38.00 to $36.00 and set an outperform rating for the company in a research report on Wednesday, September 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. Sonic Corp. has a consensus rating of Hold and an average price target of $31.42.
Shares of Sonic Corp. (NASDAQ:SONC) traded up 0.843% during midday trading on Friday, reaching $25.705. 177,029 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $25.36 and a 200-day moving average of $27.42. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 19.926 and a beta of 1.47. Sonic Corp. has a one year low of $21.12 and a one year high of $36.34.
Sonic Corp. (NASDAQ:SONC) last announced its earnings results on Monday, October 24th. The company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. Sonic Corp. had a net margin of 10.57% and a negative return on equity of 136.77%. The business earned $162.12 million during the quarter, compared to the consensus estimate of $167.15 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities research analysts anticipate that Sonic Corp. will post $1.25 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Wednesday, November 9th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.20%. This is an increase from Sonic Corp.’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, November 7th. Sonic Corp.’s dividend payout ratio (DPR) is presently 43.08%.
Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Sonic Corp. during the second quarter valued at approximately $123,000. BlackRock Inc. increased its stake in shares of Sonic Corp. by 34.2% in the second quarter. BlackRock Inc. now owns 5,134 shares of the company’s stock valued at $138,000 after buying an additional 1,308 shares during the last quarter. Societe Generale purchased a new stake in shares of Sonic Corp. during the second quarter valued at approximately $141,000. SG Americas Securities LLC purchased a new stake in shares of Sonic Corp. during the second quarter valued at approximately $141,000. Finally, FNY Managed Accounts LLC purchased a new stake in shares of Sonic Corp. during the third quarter valued at approximately $147,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.
Sonic Corp. Company Profile
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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