News stories about Sonic Corp. (NASDAQ:SONC) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Sonic Corp. earned a daily sentiment score of 0.05 on Accern’s scale. Accern also assigned news headlines about the restaurant operator an impact score of 44.5756123383043 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.

These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

Shares of Sonic Corp. (NASDAQ SONC) traded down $0.56 during midday trading on Friday, hitting $24.11. The company had a trading volume of 768,300 shares, compared to its average volume of 951,896. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of -3.19. The stock has a market capitalization of $992.98, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.75. Sonic Corp. has a 12-month low of $22.11 and a 12-month high of $30.05.

Sonic Corp. (NASDAQ:SONC) last posted its earnings results on Monday, October 16th. The restaurant operator reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $123.60 million during the quarter, compared to analyst estimates of $126.01 million. Sonic Corp. had a negative return on equity of 33.92% and a net margin of 13.34%. Sonic Corp.’s revenue was down 23.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. equities research analysts anticipate that Sonic Corp. will post 1.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Wednesday, November 8th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.65%. This is an increase from Sonic Corp.’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Tuesday, November 7th. Sonic Corp.’s dividend payout ratio is presently 43.54%.

Sonic Corp. announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 9th that authorizes the company to buyback $160.00 million in outstanding shares. This buyback authorization authorizes the restaurant operator to repurchase up to 16.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

SONC has been the topic of a number of research analyst reports. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $29.00 target price on shares of Sonic Corp. in a research note on Friday, October 6th. Zacks Investment Research upgraded Sonic Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. began coverage on Sonic Corp. in a report on Monday, September 18th. They set a “buy” rating and a $28.00 target price for the company. Cowen and Company reiterated a “neutral” rating on shares of Sonic Corp. in a report on Tuesday, October 17th. Finally, BidaskClub cut Sonic Corp. from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $27.73.

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In related news, Director Frank E. Richardson III sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $25.59, for a total value of $1,279,500.00. Following the transaction, the director now directly owns 1,187,659 shares of the company’s stock, valued at approximately $30,392,193.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Federico F. Pena sold 1,161 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $25.20, for a total transaction of $29,257.20. Following the completion of the sale, the director now owns 1,187,659 shares of the company’s stock, valued at approximately $29,929,006.80. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by company insiders.

About Sonic Corp.

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.

Insider Buying and Selling by Quarter for Sonic Corp. (NASDAQ:SONC)

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