Sonic Automotive (NYSE:SAH) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sonic Automotive (NYSE:SAH – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Benchmark raised their target price on Sonic Automotive from $62.00 to $71.00 and gave the company a buy rating in a research report on Tuesday, February 21st. JPMorgan Chase & Co. cut Sonic Automotive from an overweight rating to a neutral rating and dropped their target price for the company from $60.00 to $55.00 in a research report on Tuesday, February 21st. Finally, Morgan Stanley raised their target price on Sonic Automotive from $33.00 to $35.00 and gave the company an underweight rating in a research report on Tuesday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Sonic Automotive has a consensus rating of Hold and an average price target of $53.67.

Sonic Automotive Stock Performance

NYSE SAH opened at $49.53 on Thursday. The stock has a 50-day simple moving average of $54.72 and a two-hundred day simple moving average of $50.23. The firm has a market capitalization of $1.79 billion, a P/E ratio of 29.48 and a beta of 1.84. Sonic Automotive has a fifty-two week low of $34.17 and a fifty-two week high of $62.26. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.54 and a current ratio of 1.20.

Sonic Automotive (NYSE:SAH – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.35. Sonic Automotive had a return on equity of 35.44% and a net margin of 0.62%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm earned $2.66 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Sonic Automotive will post 7.36 earnings per share for the current year.

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 15th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, March 14th. Sonic Automotive’s payout ratio is 66.67%.

Institutional Investors Weigh In On Sonic Automotive

Institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in Sonic Automotive in the 1st quarter worth about $26,000. SeaCrest Wealth Management LLC acquired a new position in shares of Sonic Automotive during the 2nd quarter worth approximately $97,000. UBS Group AG boosted its holdings in shares of Sonic Automotive by 353.4% during the 3rd quarter. UBS Group AG now owns 2,970 shares of the company’s stock worth $129,000 after purchasing an additional 2,315 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Sonic Automotive during the 4th quarter worth approximately $165,000. Finally, EMC Capital Management boosted its holdings in shares of Sonic Automotive by 51.7% during the 2nd quarter. EMC Capital Management now owns 4,044 shares of the company’s stock worth $148,000 after purchasing an additional 1,378 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Company Profile

(Get Rating)

Sonic Automotive, Inc operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.