Sonic (SONC) Receiving Somewhat Favorable Press Coverage, AlphaOne Reports
News coverage about Sonic (NASDAQ:SONC) has been trending somewhat positive this week, Alpha One reports. Alpha One, a division of Accern, identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Sonic earned a media sentiment score of 0.04 on Alpha One’s scale. Alpha One also gave press coverage about the restaurant operator an impact score of 18 out of 100, meaning that recent media coverage is very unlikely to have an impact on the company’s share price in the next few days.
Here are some of the media headlines that may have effected Alpha One’s analysis:
- $0.41 Earnings Per Share Expected for Sonic Co. (SONC) This Quarter (americanbankingnews.com)
- Sonic Co. Declares Quarterly Dividend of $0.14 (SONC) (americanbankingnews.com)
- Sonic declares $0.14 dividend (seekingalpha.com)
- Sonic (SONC) Getting Somewhat Favorable Press Coverage, Study Finds (americanbankingnews.com)
- Short Interest in Sonic Co. (SONC) Rises By 8.2% (americanbankingnews.com)
A number of equities analysts recently commented on the company. Jefferies Group LLC reiterated a “hold” rating and set a $26.00 price target on shares of Sonic in a report on Saturday, January 7th. Zacks Investment Research upgraded Sonic from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Wednesday, January 18th. Cowen and Company cut Sonic from an “outperform” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $24.00 in a report on Monday, March 20th. Canaccord Genuity cut Sonic from a “buy” rating to a “hold” rating and reduced their price target for the stock from $30.00 to $24.00 in a report on Monday, March 20th. Finally, Barclays PLC reduced their price target on Sonic from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, March 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.23.
Sonic (NASDAQ:SONC) traded up 0.12% during midday trading on Thursday, hitting $24.28. 1,003,190 shares of the stock were exchanged. The firm’s 50-day moving average price is $24.32 and its 200 day moving average price is $25.59. The firm has a market capitalization of $1.03 billion, a P/E ratio of 17.62 and a beta of 1.49. Sonic has a 1-year low of $21.12 and a 1-year high of $35.72.
Sonic (NASDAQ:SONC) last posted its earnings results on Tuesday, March 28th. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Sonic had a net margin of 10.97% and a negative return on equity of 88.45%. The business had revenue of $100.20 million for the quarter, compared to analysts’ expectations of $104.32 million. During the same period in the prior year, the company posted $0.18 EPS. The business’s revenue for the quarter was down 24.8% compared to the same quarter last year. Analysts expect that Sonic will post $1.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Wednesday, May 10th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.31%. Sonic’s dividend payout ratio is presently 41.79%.
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Sonic Company Profile
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.
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