Sonic Co. (NASDAQ:SONC) – Stock analysts at William Blair cut their Q2 2018 EPS estimates for Sonic in a report released on Monday. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings per share of $0.16 for the quarter, down from their previous estimate of $0.17.

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Sonic (NASDAQ:SONC) last released its quarterly earnings results on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.86 million. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. Sonic’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS.

A number of other research firms have also recently weighed in on SONC. Guggenheim restated a “buy” rating and issued a $31.00 price target (up previously from $29.00) on shares of Sonic in a report on Thursday, December 28th. Canaccord Genuity restated a “hold” rating and issued a $30.00 price target on shares of Sonic in a report on Friday, January 5th. UBS restated a “neutral” rating and issued a $28.00 price target (up previously from $26.00) on shares of Sonic in a report on Friday, January 5th. Oppenheimer cut Sonic from an “outperform” rating to a “market perform” rating and set a $29.00 price target for the company. in a report on Thursday, January 4th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $31.00 price target (up previously from $27.00) on shares of Sonic in a report on Friday, January 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $29.21.

SONC stock opened at $25.58 on Wednesday. The firm has a market capitalization of $966.45, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. Sonic has a fifty-two week low of $22.11 and a fifty-two week high of $30.05. The company has a debt-to-equity ratio of -2.87, a current ratio of 1.81 and a quick ratio of 1.81.

Hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its position in shares of Sonic by 97.2% during the 4th quarter. Glenmede Trust Co. NA now owns 4,634 shares of the restaurant operator’s stock valued at $126,000 after acquiring an additional 2,284 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of Sonic during the 4th quarter valued at approximately $203,000. Elkfork Partners LLC acquired a new stake in shares of Sonic during the 4th quarter valued at approximately $209,000. Wolverine Trading LLC raised its position in shares of Sonic by 382.4% during the 3rd quarter. Wolverine Trading LLC now owns 9,110 shares of the restaurant operator’s stock valued at $232,000 after acquiring an additional 12,336 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Sonic during the 3rd quarter valued at approximately $239,000.

In other Sonic news, Director Federico F. Pena sold 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $25.99, for a total value of $118,904.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Federico F. Pena sold 9,686 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $24.61, for a total value of $238,372.46. The disclosure for this sale can be found here. Corporate insiders own 8.28% of the company’s stock.

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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.

Earnings History and Estimates for Sonic (NASDAQ:SONC)

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