Sonic Automotive (SAH) Set to Announce Earnings on Thursday

Sonic Automotive (NYSE:SAH) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Sonic Automotive to post earnings of $1.26 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.17). The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.61 billion. Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.61 earnings per share. On average, analysts expect Sonic Automotive to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Sonic Automotive Stock Performance

NYSE SAH opened at $48.66 on Thursday. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.41 and a current ratio of 1.10. The business’s 50 day moving average price is $53.03 and its 200-day moving average price is $51.65. Sonic Automotive has a fifty-two week low of $39.02 and a fifty-two week high of $60.24. The company has a market cap of $1.65 billion, a P/E ratio of 9.79 and a beta of 1.82.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.47%. Sonic Automotive’s payout ratio is currently 24.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SAH. Morgan Stanley raised their price objective on Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th. Finally, Bank of America lowered their price objective on Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Thursday, February 29th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Sonic Automotive presently has a consensus rating of “Hold” and an average target price of $53.40.

Institutional Investors Weigh In On Sonic Automotive

Several large investors have recently bought and sold shares of SAH. Balyasny Asset Management LLC increased its stake in Sonic Automotive by 411.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 633,755 shares of the company’s stock worth $27,442,000 after buying an additional 509,855 shares in the last quarter. Millennium Management LLC increased its stake in Sonic Automotive by 1,726.2% during the 2nd quarter. Millennium Management LLC now owns 456,311 shares of the company’s stock worth $16,715,000 after buying an additional 431,324 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Sonic Automotive during the 1st quarter worth approximately $28,000. Schonfeld Strategic Advisors LLC increased its stake in Sonic Automotive by 293.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 301,829 shares of the company’s stock worth $14,871,000 after buying an additional 225,029 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Sonic Automotive by 48.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 409,629 shares of the company’s stock worth $20,182,000 after buying an additional 133,986 shares in the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.