Seaport Res Ptn Issues Negative Estimate for SAH Earnings

Sonic Automotive, Inc. (NYSE:SAH) – Equities research analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share estimates for Sonic Automotive in a research report issued on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now expects that the company will post earnings per share of $1.38 for the quarter, down from their prior estimate of $1.58. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.67 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q4 2024 earnings at $1.49 EPS and FY2025 earnings at $6.16 EPS.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.56 billion. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS.

Several other equities analysts have also weighed in on the company. Bank of America reduced their price objective on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a report on Monday, October 14th. Needham & Company LLC began coverage on Sonic Automotive in a research report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target on the stock. Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. JPMorgan Chase & Co. upped their price objective on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Stephens started coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.33.

Sonic Automotive Stock Up 2.2 %

SAH opened at $55.47 on Tuesday. Sonic Automotive has a twelve month low of $42.57 and a twelve month high of $64.68. The company’s 50-day moving average price is $57.82 and its two-hundred day moving average price is $56.57. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 11.37 and a beta of 1.60. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were issued a $0.30 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.20 annualized dividend and a dividend yield of 2.16%. Sonic Automotive’s payout ratio is currently 24.59%.

Hedge Funds Weigh In On Sonic Automotive

Institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. raised its stake in shares of Sonic Automotive by 12.6% during the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock worth $35,898,000 after acquiring an additional 70,540 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Sonic Automotive by 524.4% during the 2nd quarter. Victory Capital Management Inc. now owns 100,602 shares of the company’s stock valued at $5,480,000 after purchasing an additional 84,489 shares during the last quarter. Quantbot Technologies LP raised its position in Sonic Automotive by 109.1% in the 1st quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock worth $1,003,000 after purchasing an additional 9,193 shares during the period. Millennium Management LLC lifted its stake in Sonic Automotive by 3.8% in the second quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock worth $24,870,000 after purchasing an additional 16,556 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Sonic Automotive by 3.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock valued at $730,000 after buying an additional 458 shares during the period. Institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

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.