Seaport Res Ptn Analysts Reduce Earnings Estimates for SAH

Sonic Automotive, Inc. (NYSE:SAH) – Investment analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for shares of Sonic Automotive in a report released on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings of $5.49 per share for the year, down from their prior 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 $5.61 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 posted 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 return on equity of 21.27% and a net margin of 1.41%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis.

Other analysts have also issued research reports about the stock. Bank of America reduced their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley upgraded shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 target price on shares of Sonic Automotive in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. dropped their price target on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sonic Automotive has an average rating of “Moderate Buy” and a consensus target price of $67.20.

Sonic Automotive Stock Performance

Shares of Sonic Automotive stock opened at $70.19 on Monday. The business has a 50 day moving average price of $65.79 and a 200-day moving average price of $60.71. Sonic Automotive has a 52 week low of $47.82 and a 52 week high of $70.88. The company has a market cap of $2.40 billion, a PE ratio of 12.49 and a beta of 1.67. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, December 13th. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.30. Sonic Automotive’s dividend payout ratio (DPR) is 24.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in shares of Sonic Automotive by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 88,826 shares of the company’s stock valued at $4,838,000 after purchasing an additional 18,800 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Sonic Automotive by 36.0% during the 2nd quarter. Hsbc Holdings PLC now owns 6,743 shares of the company’s stock valued at $366,000 after buying an additional 1,784 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Sonic Automotive by 3.4% during 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. Intech Investment Management LLC purchased a new position in shares of Sonic Automotive in the 2nd quarter worth about $228,000. Finally, Public Sector Pension Investment Board boosted its stake in Sonic Automotive by 6.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 32,718 shares of the company’s stock valued at $1,782,000 after purchasing an additional 1,876 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors.

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.