Zacks: Brokerages Anticipate Sonic Automotive, Inc. (NYSE:SAH) Will Announce Earnings of $1.76 Per Share

Wall Street analysts expect that Sonic Automotive, Inc. (NYSE:SAH) will report earnings per share of $1.76 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Sonic Automotive’s earnings. The highest EPS estimate is $2.31 and the lowest is $1.29. Sonic Automotive posted earnings of $1.29 per share in the same quarter last year, which suggests a positive year over year growth rate of 36.4%. The business is expected to issue its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Sonic Automotive will report full-year earnings of $6.83 per share for the current financial year, with EPS estimates ranging from $5.15 to $8.40. For the next financial year, analysts forecast that the business will post earnings of $7.05 per share, with EPS estimates ranging from $5.25 to $8.65. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Wednesday, July 28th. The company reported $2.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $1.07. Sonic Automotive had a net margin of 2.48% and a return on equity of 34.65%. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $2.99 billion.

Separately, Morgan Stanley boosted their price objective on Sonic Automotive from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, August 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Sonic Automotive has a consensus rating of “Buy” and an average price target of $53.25.

Shares of SAH stock opened at $50.34 on Wednesday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 7.72 and a beta of 2.55. The company’s fifty day simple moving average is $50.09 and its two-hundred day simple moving average is $49.33. Sonic Automotive has a 1 year low of $34.05 and a 1 year high of $58.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.05 and a quick ratio of 0.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.95%. The ex-dividend date is Tuesday, September 14th. Sonic Automotive’s dividend payout ratio is 12.47%.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Sonic Automotive by 1.3% during the 2nd quarter. BlackRock Inc. now owns 3,968,013 shares of the company’s stock worth $177,529,000 after acquiring an additional 49,911 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sonic Automotive by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,378,866 shares of the company’s stock worth $106,431,000 after purchasing an additional 13,410 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Sonic Automotive by 324.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,315,332 shares of the company’s stock valued at $65,201,000 after buying an additional 1,005,623 shares in the last quarter. Victory Capital Management Inc. lifted its position in Sonic Automotive by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 1,267,250 shares of the company’s stock worth $56,697,000 after buying an additional 28,717 shares during the last quarter. Finally, State Street Corp boosted its stake in Sonic Automotive by 12.4% in the second quarter. State Street Corp now owns 1,020,209 shares of the company’s stock worth $45,760,000 after buying an additional 112,311 shares in the last quarter. Hedge funds and other institutional investors own 56.44% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.

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Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

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