Sonic Automotive, Inc. (NYSE:SAH) Receives $21.75 Average Target Price from Brokerages

Sonic Automotive, Inc. (NYSE:SAH) has been assigned a consensus rating of “Hold” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $21.75.

SAH has been the topic of a number of research reports. ValuEngine downgraded Sonic Automotive from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. TheStreet downgraded Sonic Automotive from a “b” rating to a “c+” rating in a report on Tuesday, May 30th. Jefferies Group LLC restated a “hold” rating and issued a $22.00 price objective on shares of Sonic Automotive in a report on Wednesday, May 3rd. Morgan Stanley dropped their price objective on Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, June 9th. Finally, BidaskClub downgraded Sonic Automotive from a “hold” rating to a “sell” rating in a report on Friday, July 28th.

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Sonic Automotive (SAH) traded down 0.30% during mid-day trading on Tuesday, hitting $16.80. 75,318 shares of the stock traded hands. The company has a market cap of $736.86 million, a price-to-earnings ratio of 11.31 and a beta of 1.51. Sonic Automotive has a 12-month low of $16.45 and a 12-month high of $27.45. The firm’s 50-day moving average is $18.57 and its 200-day moving average is $20.00.

Sonic Automotive (NYSE:SAH) last issued its earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by $0.06. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.44 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. Sonic Automotive’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. Equities research analysts expect that Sonic Automotive will post $1.86 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 1.19%. Sonic Automotive’s dividend payout ratio (DPR) is presently 13.42%.

A number of institutional investors have recently made changes to their positions in SAH. Bank of New York Mellon Corp boosted its stake in Sonic Automotive by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 835,575 shares of the company’s stock valued at $16,753,000 after buying an additional 335,459 shares in the last quarter. LSV Asset Management boosted its stake in Sonic Automotive by 12.5% in the first quarter. LSV Asset Management now owns 2,403,776 shares of the company’s stock valued at $48,195,000 after buying an additional 267,492 shares in the last quarter. Prudential Financial Inc. boosted its stake in Sonic Automotive by 49.4% in the second quarter. Prudential Financial Inc. now owns 422,930 shares of the company’s stock valued at $8,226,000 after buying an additional 139,778 shares in the last quarter. Oxford Asset Management acquired a new stake in Sonic Automotive during the first quarter valued at $1,824,000. Finally, Vanguard Group Inc. boosted its stake in Sonic Automotive by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,344,255 shares of the company’s stock valued at $47,002,000 after buying an additional 78,687 shares in the last quarter. Institutional investors own 63.25% of the company’s stock.

Sonic Automotive Company Profile

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

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