Sonic Automotive (NYSE:SAH) Posts Earnings Results, Beats Expectations By $0.09 EPS

Sonic Automotive (NYSE:SAH) announced its quarterly earnings results on Monday. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09, Briefing.com reports. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the firm posted $1.83 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis.

Sonic Automotive Price Performance

Sonic Automotive stock opened at $57.52 on Wednesday. The stock’s 50 day moving average is $56.10 and its 200 day moving average is $54.72. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.09 and a quick ratio of 0.35. The firm has a market cap of $1.95 billion, a P/E ratio of 11.79 and a beta of 1.61. Sonic Automotive has a one year low of $41.19 and a one year high of $64.68.

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, September 13th. Sonic Automotive’s dividend payout ratio is currently 24.59%.

Analyst Upgrades and Downgrades

SAH has been the topic of a number of recent research reports. Bank of America cut their price target on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. raised Sonic Automotive from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $63.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $58.00.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, CEO David Bruton Smith sold 67,703 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $58.43, for a total value of $3,955,886.29. Following the transaction, the chief executive officer now directly owns 583,054 shares of the company’s stock, valued at $34,067,845.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Sonic Automotive news, President Jeff Dyke sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $56.76, for a total value of $851,400.00. Following the transaction, the president now directly owns 161,622 shares of the company’s stock, valued at $9,173,664.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Bruton Smith sold 67,703 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $58.43, for a total value of $3,955,886.29. Following the completion of the transaction, the chief executive officer now directly owns 583,054 shares in the company, valued at $34,067,845.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,514 shares of company stock valued at $9,625,454. 40.95% of the stock is currently owned by company insiders.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.