Sonic Automotive Inc (SAH) Receives Consensus Recommendation of “Hold” from Brokerages

Sonic Automotive Inc (NYSE:SAH) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.50.

Several research firms have weighed in on SAH. Zacks Investment Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 2nd. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, October 18th. ValuEngine downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Finally, Bank of America downgraded Sonic Automotive from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 19th.

Shares of Sonic Automotive (SAH) opened at $18.75 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The firm has a market capitalization of $827.20, a PE ratio of 12.02, a price-to-earnings-growth ratio of 3.49 and a beta of 1.56. Sonic Automotive has a one year low of $15.95 and a one year high of $27.45.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.54 billion. Sonic Automotive had a return on equity of 10.47% and a net margin of 0.70%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. equities research analysts forecast that Sonic Automotive will post 1.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.07%. Sonic Automotive’s dividend payout ratio (DPR) is presently 12.82%.

In other news, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total value of $171,875.10. Following the completion of the transaction, the executive vice president now owns 1,262,056 shares of the company’s stock, valued at approximately $25,367,325.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $20.43, for a total value of $224,730.00. Following the completion of the transaction, the chief financial officer now directly owns 143,306 shares of the company’s stock, valued at approximately $2,927,741.58. The disclosure for this sale can be found here. Insiders own 30.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Sonic Automotive in the 3rd quarter worth about $1,111,000. First Heartland Consultants Inc. raised its holdings in Sonic Automotive by 22.8% in the 3rd quarter. First Heartland Consultants Inc. now owns 50,600 shares of the company’s stock worth $1,032,000 after purchasing an additional 9,400 shares during the period. California Public Employees Retirement System raised its holdings in Sonic Automotive by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 142,102 shares of the company’s stock worth $2,899,000 after purchasing an additional 4,249 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Sonic Automotive in the 3rd quarter worth about $315,000. Finally, Jane Street Group LLC acquired a new position in Sonic Automotive in the 3rd quarter worth about $260,000. 64.40% of the stock is owned by institutional investors.

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About Sonic Automotive

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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