Sonic Automotive Inc (NYSE:SAH) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 0.10 per share on Tuesday, October 15th. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend is Thursday, September 12th.
Sonic Automotive has raised its dividend payment by an average of 32.0% annually over the last three years and has increased its dividend every year for the last 3 years. Sonic Automotive has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sonic Automotive to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 16.1%.
Shares of NYSE SAH traded up $1.93 during midday trading on Tuesday, hitting $30.88. 12,960 shares of the stock traded hands, compared to its average volume of 242,695. The firm has a market capitalization of $1.21 billion, a P/E ratio of 17.33, a PEG ratio of 3.98 and a beta of 1.86. Sonic Automotive has a one year low of $12.78 and a one year high of $29.04. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.25 and a current ratio of 1.03. The firm has a 50-day moving average of $27.06 and a two-hundred day moving average of $20.70.
Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, July 25th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.15. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.52 billion. Sonic Automotive had a return on equity of 11.27% and a net margin of 1.05%. Sonic Automotive’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 earnings per share. Equities analysts forecast that Sonic Automotive will post 2.34 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. TheStreet raised shares of Sonic Automotive from a “c” rating to a “b” rating in a report on Tuesday, May 28th. Bank of America downgraded shares of Sonic Automotive from a “buy” rating to a “neutral” rating and increased their price target for the stock from $26.00 to $29.00 in a research report on Thursday, August 15th. JPMorgan Chase & Co. upgraded shares of Sonic Automotive from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $30.00 in a research note on Tuesday. Stephens raised shares of Sonic Automotive from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $30.00 in a research report on Wednesday, June 5th. Finally, ValuEngine lowered Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.50.
About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.
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