Analysts expect Sonic Automotive Inc (NYSE:SAH) to post $2.51 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sonic Automotive’s earnings. The highest sales estimate is $2.54 billion and the lowest is $2.48 billion. Sonic Automotive also posted sales of $2.51 billion during the same quarter last year. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, July 25th.

According to Zacks, analysts expect that Sonic Automotive will report full-year sales of $9.94 billion for the current year, with estimates ranging from $9.80 billion to $10.11 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.95 billion, with estimates ranging from $9.63 billion to $10.36 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.17. Sonic Automotive had a return on equity of 10.12% and a net margin of 0.97%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the previous year, the business posted $0.26 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year.

SAH has been the topic of a number of research reports. Bank of America set a $275.00 price objective on SVB Financial Group and gave the company a “buy” rating in a research note on Friday, April 26th. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Stephens raised Sonic Automotive from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $30.00 in a report on Wednesday, June 5th. TheStreet raised BlackRock TCP Capital from a “c+” rating to a “b” rating in a report on Tuesday, May 28th. Finally, Buckingham Research lifted their target price on Sonic Automotive from $15.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Sonic Automotive presently has a consensus rating of “Hold” and an average price target of $20.50.

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

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Sonic Automotive by 4.7% during the fourth quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after purchasing an additional 189,881 shares in the last quarter. Strs Ohio grew its holdings in shares of Sonic Automotive by 7.4% during the first quarter. Strs Ohio now owns 44,900 shares of the company’s stock worth $664,000 after purchasing an additional 3,100 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Sonic Automotive by 4.4% during the first quarter. Texas Permanent School Fund now owns 16,163 shares of the company’s stock worth $239,000 after purchasing an additional 683 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Sonic Automotive by 27.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 36,164 shares of the company’s stock worth $459,000 after purchasing an additional 7,857 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund purchased a new position in shares of Sonic Automotive during the fourth quarter worth about $124,000. 60.83% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive stock traded down $0.18 during midday trading on Friday, reaching $23.73. The stock had a trading volume of 193,208 shares, compared to its average volume of 252,609. Sonic Automotive has a 12 month low of $12.78 and a 12 month high of $24.28. The business has a 50-day moving average of $22.51. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 3.73 and a beta of 1.85. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.03 and a quick ratio of 0.25.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, June 13th. Sonic Automotive’s payout ratio is presently 22.60%.

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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