Sonic Automotive, Inc. (SAH) to Issue Quarterly Dividend of $0.35 on April 15th

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Friday, March 14th.

Sonic Automotive has raised its dividend payment by an average of 39.6% annually over the last three years. Sonic Automotive has a payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Sonic Automotive to earn $7.51 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 18.6%.

Sonic Automotive Price Performance

Sonic Automotive stock opened at $65.45 on Wednesday. The firm has a market cap of $2.21 billion, a PE ratio of 10.59 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The stock’s fifty day moving average price is $69.35 and its two-hundred day moving average price is $63.96. Sonic Automotive has a one year low of $47.82 and a one year high of $76.78.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, research analysts expect that Sonic Automotive will post 6.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SAH. JPMorgan Chase & Co. upped their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Needham & Company LLC upped their target price on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Stephens raised their target price on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th. Finally, Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $79.20.

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.