Analysts Expect Sonic Automotive, Inc. (NYSE:SAH) Will Post Quarterly Sales of $3.11 Billion

Wall Street brokerages expect Sonic Automotive, Inc. (NYSE:SAH) to post sales of $3.11 billion for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Sonic Automotive’s earnings. The lowest sales estimate is $3.00 billion and the highest is $3.22 billion. Sonic Automotive posted sales of $2.80 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, February 16th.

On average, analysts expect that Sonic Automotive will report full-year sales of $12.38 billion for the current year, with estimates ranging from $12.21 billion to $12.47 billion. For the next fiscal year, analysts forecast that the firm will report sales of $15.86 billion, with estimates ranging from $13.37 billion to $17.16 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Wednesday, October 27th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.04. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.07 billion. Sonic Automotive had a net margin of 2.58% and a return on equity of 35.43%. Sonic Automotive’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS.

Several analysts recently commented on SAH shares. Morgan Stanley downgraded shares of Sonic Automotive from an “equal weight” rating to an “underweight” rating and set a $40.00 target price for the company. in a report on Wednesday, November 17th. Zacks Investment Research downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating and set a $59.00 target price for the company. in a report on Tuesday, September 28th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in shares of Sonic Automotive during the 3rd quarter worth approximately $38,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Sonic Automotive by 138.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 976 shares of the company’s stock worth $44,000 after acquiring an additional 567 shares during the period. Penserra Capital Management LLC bought a new stake in shares of Sonic Automotive during the 3rd quarter worth approximately $84,000. Islay Capital Management LLC bought a new stake in shares of Sonic Automotive during the 3rd quarter worth approximately $122,000. Finally, Walleye Capital LLC bought a new stake in shares of Sonic Automotive during the 2nd quarter worth approximately $208,000. 58.04% of the stock is owned by hedge funds and other institutional investors.

Shares of SAH stock opened at $48.19 on Wednesday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 6.76 and a beta of 2.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.44 and a current ratio of 1.03. The company has a 50-day simple moving average of $48.67 and a 200 day simple moving average of $50.11. Sonic Automotive has a 52 week low of $39.25 and a 52 week high of $58.00.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Wednesday, December 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, December 14th. Sonic Automotive’s dividend payout ratio is currently 6.73%.

About Sonic Automotive

Sonic Automotive, Inc operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.

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