Sonic Automotive (NYSE:SAH) Issues Earnings Results

by · The Cerbat Gem

Sonic Automotive (NYSE:SAH – Get Free Report) announced its earnings results on Wednesday. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.04), Zacks reports. Sonic Automotive had a net margin of 0.86% and a return on equity of 21.65%. The firm had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $59.26 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.02 and a quick ratio of 0.27. Sonic Automotive has a 12 month low of $52.00 and a 12 month high of $89.62. The company has a fifty day moving average price of $62.71 and a two-hundred day moving average price of $68.96. The company has a market cap of $2.02 billion, a PE ratio of 16.10 and a beta of 0.93.

Wall Street Analyst Weigh In

SAH has been the topic of several research analyst reports. Wall Street Zen lowered Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. Citigroup upgraded shares of Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, November 6th. Morgan Stanley set a $68.00 target price on Sonic Automotive in a research note on Monday, December 8th. Barclays reduced their target price on Sonic Automotive from $71.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.63.

View Our Latest Stock Report on SAH

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after acquiring an additional 397 shares during the period. National Bank of Canada FI acquired a new position in Sonic Automotive in the third quarter worth approximately $78,000. Raymond James Financial Inc. purchased a new stake in shares of Sonic Automotive during the second quarter valued at $168,000. Wexford Capital LP acquired a new position in shares of Sonic Automotive in the 3rd quarter valued at $212,000. Finally, Creative Planning purchased a new stake in shares of Sonic Automotive in the second quarter valued at $213,000. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Company Profile

(Get Free Report)

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.

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