Brokers Issue Forecasts for Sonic Automotive Inc’s Q3 2018 Earnings (SAH)

Sonic Automotive Inc (NYSE:SAH) – Research analysts at Jefferies Financial Group dropped their Q3 2018 earnings estimates for shares of Sonic Automotive in a research report issued on Tuesday, July 17th. Jefferies Financial Group analyst B. Jordan now anticipates that the company will earn $0.35 per share for the quarter, down from their previous estimate of $0.48. Jefferies Financial Group also issued estimates for Sonic Automotive’s Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.42 EPS and FY2019 earnings at $2.20 EPS.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. Sonic Automotive had a net margin of 0.92% and a return on equity of 11.09%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS.

Other equities research analysts have also issued reports about the stock. Buckingham Research lowered their price objective on shares of Sonic Automotive from $21.00 to $19.00 and set a “$19.55” rating for the company in a report on Wednesday. Zacks Investment Research upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Monday. ValuEngine lowered shares of Sonic Automotive from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley lowered shares of Sonic Automotive from an “overweight” rating to an “underweight” rating and set a $25.00 price objective for the company. in a report on Tuesday, July 10th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.40.

Shares of SAH opened at $19.55 on Thursday. The company has a market capitalization of $870.47 million, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.64 and a beta of 1.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.04 and a quick ratio of 0.22. Sonic Automotive has a fifty-two week low of $15.95 and a fifty-two week high of $23.60.

A number of institutional investors have recently modified their holdings of SAH. MetLife Investment Advisors LLC purchased a new position in Sonic Automotive during the 4th quarter valued at $271,000. Stone Ridge Asset Management LLC purchased a new position in Sonic Automotive during the 4th quarter valued at $297,000. Wells Fargo & Company MN increased its position in Sonic Automotive by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 37,481 shares of the company’s stock valued at $692,000 after purchasing an additional 7,703 shares during the period. Mutual Advisors LLC purchased a new position in Sonic Automotive during the 1st quarter valued at $959,000. Finally, JPMorgan Chase & Co. increased its position in Sonic Automotive by 23.2% during the 1st quarter. JPMorgan Chase & Co. now owns 72,859 shares of the company’s stock valued at $1,381,000 after purchasing an additional 13,699 shares during the period. 63.62% of the stock is currently owned by institutional investors and hedge funds.

In other Sonic Automotive news, CFO Heath Byrd sold 8,500 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $23.00, for a total transaction of $195,500.00. Following the transaction, the chief financial officer now directly owns 153,535 shares of the company’s stock, valued at approximately $3,531,305. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman O Bruton Smith acquired 15,000 shares of Sonic Automotive stock in a transaction on Friday, May 25th. The shares were bought at an average cost of $21.41 per share, for a total transaction of $321,150.00. Following the completion of the transaction, the chairman now owns 909,691 shares in the company, valued at approximately $19,476,484.31. The disclosure for this purchase can be found here. Corporate insiders own 32.30% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Friday, June 15th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Sonic Automotive’s dividend payout ratio is currently 12.97%.

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.

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Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

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