Sonic Automotive, Inc. to Post Q1 2024 Earnings of $1.10 Per Share, Seaport Res Ptn Forecasts (NYSE:SAH)

Sonic Automotive, Inc. (NYSE:SAH) – Research analysts at Seaport Res Ptn cut their Q1 2024 EPS estimates for shares of Sonic Automotive in a note issued to investors on Friday, April 19th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $1.10 per share for the quarter, down from their prior forecast of $1.25. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.75 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q2 2024 earnings at $1.61 EPS, Q3 2024 earnings at $1.45 EPS, Q4 2024 earnings at $1.39 EPS and FY2025 earnings at $6.55 EPS.

Sonic Automotive (NYSE:SAH) last released its 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 return on equity of 28.06% and a net margin of 1.24%. The business had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.61 billion. During the same quarter in the previous year, the company earned $2.61 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis.

Several other brokerages have also recently commented on SAH. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. 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. Morgan Stanley upped their target price on Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.40.

Sonic Automotive Trading Up 1.5 %

Shares of SAH stock opened at $49.36 on Monday. The stock’s fifty day simple moving average is $52.51 and its 200 day simple moving average is $51.78. The company has a quick ratio of 0.41, a current ratio of 1.10 and a debt-to-equity ratio of 2.10. Sonic Automotive has a twelve month low of $39.02 and a twelve month high of $60.24. The firm has a market capitalization of $1.68 billion, a P/E ratio of 9.93 and a beta of 1.82.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its holdings in Sonic Automotive by 32.0% during the first quarter. Denali Advisors LLC now owns 36,700 shares of the company’s stock worth $2,090,000 after acquiring an additional 8,900 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Sonic Automotive during the 1st quarter worth $30,000. Quadrature Capital Ltd purchased a new position in shares of Sonic Automotive in the 4th quarter worth about $1,724,000. Oracle Alpha Inc. bought a new position in Sonic Automotive during the fourth quarter valued at about $410,000. Finally, Westwood Holdings Group Inc. purchased a new stake in Sonic Automotive during the fourth quarter worth about $31,473,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend was Thursday, March 14th. Sonic Automotive’s dividend payout ratio is currently 24.14%.

Sonic Automotive Company Profile

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.