Sonic Automotive (SAH) Earns Underweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Sonic Automotive (NYSE:SAH) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage issued an underweight rating and a $14.00 target price on the stock.

Several other brokerages have also recently issued reports on SAH. ValuEngine raised shares of Sonic Automotive from a sell rating to a hold rating in a research note on Friday, October 26th. TheStreet cut shares of Sonic Automotive from a b- rating to a c+ rating in a research note on Tuesday, November 20th. Finally, Zacks Investment Research cut shares of Sonic Automotive from a hold rating to a sell rating in a research note on Thursday, January 3rd. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has an average rating of Sell and an average target price of $17.20.

Shares of SAH opened at $14.78 on Tuesday. The company has a market capitalization of $681.43 million, a PE ratio of 8.86, a price-to-earnings-growth ratio of 3.50 and a beta of 1.50. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.21 and a current ratio of 1.03. Sonic Automotive has a 12-month low of $12.78 and a 12-month high of $23.60.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.17). The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.70 billion. Sonic Automotive had a return on equity of 9.78% and a net margin of 0.52%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 EPS. As a group, research analysts forecast that Sonic Automotive will post 1.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 15th will be given a $0.10 dividend. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.71%. Sonic Automotive’s dividend payout ratio (DPR) is currently 13.56%.

Large investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC bought a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $31,000. Capital Investment Advisory Services LLC bought a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $56,000. Metropolitan Life Insurance Co. NY raised its position in shares of Sonic Automotive by 436.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,786 shares of the company’s stock valued at $121,000 after purchasing an additional 7,148 shares during the period. Oregon Public Employees Retirement Fund bought a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $124,000. Finally, GSA Capital Partners LLP bought a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $150,000. 61.21% of the stock is currently owned by institutional investors.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and Pre-Owned Stores. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.

Featured Article: Retained Earnings

Receive News & Ratings for Sonic Automotive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonic Automotive and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


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