$2.51 Billion in Sales Expected for Sonic Automotive Inc (NYSE:SAH) This Quarter

Analysts forecast that Sonic Automotive Inc (NYSE:SAH) will announce sales of $2.51 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sonic Automotive’s earnings, with the highest sales estimate coming in at $2.54 billion and the lowest estimate coming in at $2.48 billion. Sonic Automotive also posted sales of $2.51 billion during the same quarter last year. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, July 25th.

On average, analysts expect that Sonic Automotive will report full-year sales of $9.94 billion for the current financial year, with estimates ranging from $9.80 billion to $10.11 billion. For the next year, analysts anticipate that the firm will report sales of $9.95 billion, with estimates ranging from $9.63 billion to $10.36 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Sonic Automotive.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.17. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.42 billion. Sonic Automotive had a net margin of 0.97% and a return on equity of 10.12%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS.

SAH has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Bank of America set a $275.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, April 26th. Morgan Stanley boosted their price objective on shares of Sonic Automotive from $10.00 to $18.00 and gave the stock an “underweight” rating in a report on Monday, May 6th. ValuEngine lowered shares of Ultrapar Participacoes from a “sell” rating to a “strong sell” rating in a report on Thursday, April 25th. Finally, Stephens raised shares of Sonic Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $30.00 in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Shares of SAH traded up $0.18 during mid-day trading on Friday, reaching $23.78. The company’s stock had a trading volume of 3,615 shares, compared to its average volume of 258,536. The firm has a market capitalization of $1.01 billion, a PE ratio of 13.40, a PEG ratio of 3.72 and a beta of 1.85. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.25 and a current ratio of 1.03. Sonic Automotive has a 52 week low of $12.78 and a 52 week high of $24.05. The stock’s fifty day moving average price is $22.16.

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, June 13th. Sonic Automotive’s payout ratio is 22.60%.

In related news, CFO Heath Byrd sold 15,000 shares of Sonic Automotive stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $23.60, for a total value of $354,000.00. Following the transaction, the chief financial officer now directly owns 177,242 shares of the company’s stock, valued at $4,182,911.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.60% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Comerica Bank increased its position in Sonic Automotive by 3.0% during the 1st quarter. Comerica Bank now owns 23,711 shares of the company’s stock valued at $372,000 after purchasing an additional 682 shares during the period. Texas Permanent School Fund increased its position in Sonic Automotive by 4.4% during the 1st quarter. Texas Permanent School Fund now owns 16,163 shares of the company’s stock valued at $239,000 after purchasing an additional 683 shares during the period. First Trust Advisors LP increased its position in Sonic Automotive by 2.1% during the 1st quarter. First Trust Advisors LP now owns 43,986 shares of the company’s stock valued at $651,000 after purchasing an additional 885 shares during the period. Legal & General Group Plc increased its position in Sonic Automotive by 1.3% during the 4th quarter. Legal & General Group Plc now owns 89,744 shares of the company’s stock valued at $1,229,000 after purchasing an additional 1,173 shares during the period. Finally, Principal Financial Group Inc. increased its position in Sonic Automotive by 0.7% during the 4th quarter. Principal Financial Group Inc. now owns 192,047 shares of the company’s stock valued at $2,643,000 after purchasing an additional 1,288 shares during the period. 60.83% of the stock is currently owned by institutional investors and hedge funds.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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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