Sonic Automotive, Inc. (NYSE:SAH) Given Consensus Rating of “Reduce” by Brokerages

Sonic Automotive, Inc. (NYSE:SAH) has earned a consensus rating of “Reduce” from the four analysts that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $53.40.

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Morgan Stanley lifted their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Bank of America lowered their price target on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Thursday, February 29th. Finally, TheStreet raised shares of Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th.

Institutional Investors Weigh In On Sonic Automotive

Hedge funds have recently bought and sold shares of the business. UBS Group AG raised its stake in Sonic Automotive by 263.2% during the third quarter. UBS Group AG now owns 552 shares of the company’s stock valued at $26,000 after purchasing an additional 400 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Sonic Automotive during the first quarter valued at $26,000. Envestnet Asset Management Inc. bought a new position in Sonic Automotive during the first quarter valued at $28,000. Allspring Global Investments Holdings LLC bought a new position in Sonic Automotive during the first quarter valued at $30,000. Finally, TFO Wealth Partners LLC increased its position in Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock valued at $120,000 after acquiring an additional 2,122 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $48.06 on Friday. The firm has a 50 day moving average of $52.89 and a 200 day moving average of $51.62. The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 2.10. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 9.67 and a beta of 1.82. Sonic Automotive has a 12-month low of $39.02 and a 12-month high of $60.24.

Sonic Automotive (NYSE:SAH) last issued 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). Sonic Automotive had a net margin of 1.24% and a return on equity of 28.06%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the prior year, the firm earned $2.61 EPS. Sonic Automotive’s revenue for the quarter was down .2% compared to the same quarter last year. On average, research analysts anticipate that Sonic Automotive will post 5.75 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Thursday, March 14th. Sonic Automotive’s payout ratio is 24.14%.

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.