Seaport Res Ptn Analysts Decrease Earnings Estimates for SAH

Sonic Automotive, Inc. (NYSE:SAH) – Seaport Res Ptn dropped their FY2024 earnings estimates for shares of Sonic Automotive in a report released on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings of $5.49 per share for the year, down from their previous estimate of $5.50. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q4 2024 earnings at $1.40 EPS and FY2025 earnings at $6.11 EPS.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the previous year, the company posted $2.02 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Several other equities analysts have also commented on SAH. JPMorgan Chase & Co. dropped their price target on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday. Bank of America reduced their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $74.00 price objective on shares of Sonic Automotive in a report on Thursday, January 16th. Finally, Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.20.

Sonic Automotive Trading Up 0.1 %

NYSE SAH opened at $68.39 on Monday. The company has a market cap of $2.34 billion, a P/E ratio of 12.17 and a beta of 1.67. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $70.88. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The company has a 50-day moving average of $65.68 and a 200-day moving average of $60.59.

Sonic Automotive Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.05%. Sonic Automotive’s payout ratio is 24.91%.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after purchasing an additional 599 shares in the last quarter. Point72 DIFC Ltd boosted its position in Sonic Automotive by 6.9% in the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after buying an additional 187 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Sonic Automotive during the second quarter worth about $228,000. SG Americas Securities LLC acquired a new position in shares of Sonic Automotive in the fourth quarter worth about $244,000. Finally, Inspire Investing LLC boosted its holdings in Sonic Automotive by 3.4% in the second quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock valued at $353,000 after purchasing an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

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.