Sonic Corp. (SONC) Receives Media Sentiment Score of -0.11
News articles about Sonic Corp. (NASDAQ:SONC) have trended somewhat negative this week, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Sonic Corp. earned a news sentiment score of -0.11 on Accern’s scale. Accern also assigned press coverage about the restaurant operator an impact score of 43.4748992621478 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- Here’s Why Investors Should Steer Clear of Sonic (SONC) Now (zacks.com)
- Here's Why Investors Should Steer Clear of Sonic (SONC) Now (finance.yahoo.com)
- SONIC® Drive-In brings full-flavored twist on its popular Boneless Wings lineup (eprretailnews.com)
- SONIC Kicks Up the Flavor with New Boneless Wing Flavors (finance.yahoo.com)
- Zacks Investment Research Downgrades Sonic Corp. (SONC) to Sell (americanbankingnews.com)
SONC has been the subject of several research analyst reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $32.00 price target on shares of Sonic Corp. in a report on Wednesday, July 26th. BidaskClub cut shares of Sonic Corp. from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price target on shares of Sonic Corp. in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Sonic Corp. from a “sell” rating to a “hold” rating in a report on Saturday, May 27th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $26.00 price target on shares of Sonic Corp. in a report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $27.75.
Shares of Sonic Corp. (NASDAQ SONC) traded up 0.43% during mid-day trading on Wednesday, hitting $23.31. 512,802 shares of the stock were exchanged. Sonic Corp. has a 12-month low of $21.12 and a 12-month high of $30.05. The stock’s 50 day moving average price is $24.44 and its 200-day moving average price is $26.00. The stock has a market capitalization of $974.57 million, a P/E ratio of 15.54 and a beta of 1.74.
Sonic Corp. (NASDAQ:SONC) last released its earnings results on Thursday, June 22nd. The restaurant operator reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Sonic Corp. had a negative return on equity of 44.21% and a net margin of 13.23%. The firm had revenue of $124 million for the quarter, compared to analysts’ expectations of $122.58 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was down 24.9% on a year-over-year basis. On average, equities research analysts expect that Sonic Corp. will post $1.24 EPS for the current fiscal year.
Sonic Corp. announced that its board has approved a stock repurchase plan on Wednesday, August 9th that allows the company to buyback $160.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 16.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Wednesday, August 9th were paid a $0.14 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.40%. Sonic Corp.’s dividend payout ratio is currently 37.33%.
In other Sonic Corp. news, Director Steven A. Davis acquired 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average cost of $24.62 per share, with a total value of $49,240.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.24% of the company’s stock.
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.
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