Zacks: Analysts Anticipate Sonic Automotive Inc (NYSE:SAH) Will Announce Quarterly Sales of $1.96 Billion

Analysts expect that Sonic Automotive Inc (NYSE:SAH) will report $1.96 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Sonic Automotive’s earnings, with the highest sales estimate coming in at $2.14 billion and the lowest estimate coming in at $1.78 billion. Sonic Automotive reported sales of $2.61 billion in the same quarter last year, which indicates a negative year over year growth rate of 24.9%. The company is scheduled to announce its next earnings report on Thursday, July 23rd.

On average, analysts expect that Sonic Automotive will report full-year sales of $9.58 billion for the current financial year, with estimates ranging from $9.40 billion to $9.72 billion. For the next year, analysts expect that the firm will post sales of $11.19 billion, with estimates ranging from $10.88 billion to $11.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Sonic Automotive.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.18. Sonic Automotive had a negative net margin of 0.94% and a positive return on equity of 13.54%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was down 3.4% on a year-over-year basis.

SAH has been the subject of several research reports. Benchmark lifted their price objective on shares of Sonic Automotive from $27.50 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. boosted their target price on shares of Sonic Automotive from $25.00 to $29.00 in a research report on Wednesday, May 27th. Morgan Stanley boosted their target price on shares of Sonic Automotive from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Monday, May 18th. Finally, ValuEngine downgraded shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.50.

NYSE SAH traded down $0.39 on Friday, hitting $30.07. The stock had a trading volume of 578,785 shares, compared to its average volume of 503,333. The business’s fifty day moving average price is $26.69 and its 200 day moving average price is $25.42. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.06 and a quick ratio of 0.26. Sonic Automotive has a 52-week low of $9.00 and a 52-week high of $35.41. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -12.69 and a beta of 2.69.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a $0.10 dividend. The ex-dividend date is Friday, June 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.33%. Sonic Automotive’s payout ratio is 15.09%.

In other Sonic Automotive news, Director Victor H. Doolan sold 5,000 shares of Sonic Automotive stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.46, for a total value of $142,300.00. Following the completion of the transaction, the director now owns 32,088 shares of the company’s stock, valued at $913,224.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 33.01% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAH. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $66,000. Advisor Group Inc. increased its stake in shares of Sonic Automotive by 66.9% during the fourth quarter. Advisor Group Inc. now owns 4,010 shares of the company’s stock worth $124,000 after purchasing an additional 1,607 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $264,000. Two Sigma Investments LP purchased a new stake in shares of Sonic Automotive during the first quarter worth about $141,000. Finally, Caxton Associates LP purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $351,000. 59.01% of the stock is owned by institutional investors.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.

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