Sonic (SONC) Announces Earnings Results, Beats Expectations By $0.05 EPS

Sonic (NASDAQ:SONC) released its quarterly earnings data on Thursday. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05, Bloomberg Earnings reports. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.86 million. Sonic had a negative return on equity of 31.39% and a net margin of 13.68%. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share.

Sonic (NASDAQ SONC) opened at $28.03 on Friday. The company has a debt-to-equity ratio of -3.19, a current ratio of 1.52 and a quick ratio of 1.48. The company has a market capitalization of $1,076.72, a PE ratio of 20.73, a PEG ratio of 1.41 and a beta of 1.74. Sonic has a 12 month low of $22.11 and a 12 month high of $30.05.

In other news, VP Carolyn C. Cummins sold 2,347 shares of Sonic stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $25.43, for a total value of $59,684.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank E. Richardson III sold 3,670 shares of Sonic stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $28.21, for a total value of $103,530.70. Following the completion of the transaction, the director now owns 1,061,699 shares in the company, valued at $29,950,528.79. The disclosure for this sale can be found here. Insiders sold 167,587 shares of company stock worth $4,537,647 over the last quarter. 6.24% of the stock is currently owned by corporate insiders.

Sonic declared that its board has approved a share repurchase program on Thursday, October 26th that allows the company to repurchase $160.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 14.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

A number of analysts recently issued reports on SONC shares. Oppenheimer reissued a “buy” rating and set a $29.00 price objective on shares of Sonic in a research report on Tuesday, October 17th. Zacks Investment Research raised Sonic from a “sell” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, September 13th. Citigroup started coverage on Sonic in a research report on Monday, September 18th. They set a “buy” rating and a $28.00 price objective for the company. Guggenheim reissued a “buy” rating and set a $31.00 price objective (up previously from $29.00) on shares of Sonic in a research report on Thursday, December 28th. Finally, Canaccord Genuity lifted their price objective on Sonic from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.86.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at

About Sonic

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Earnings History for Sonic (NASDAQ:SONC)

What are top analysts saying about Sonic? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sonic and related companies.


Leave a Reply

share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit