Sonic Automotive, Inc. (SAH) Expected to Announce Quarterly Sales of $2.61 Billion

Wall Street brokerages predict that Sonic Automotive, Inc. (NYSE:SAH) will post $2.61 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Sonic Automotive’s earnings. The lowest sales estimate is $2.59 billion and the highest is $2.64 billion. Sonic Automotive posted sales of $2.56 billion in the same quarter last year, which would indicate a positive year over year growth rate of 2%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Sonic Automotive will report full-year sales of $2.61 billion for the current year, with estimates ranging from $9.78 billion to $9.84 billion. For the next year, analysts forecast that the company will post sales of $9.85 billion per share, with estimates ranging from $9.76 billion to $10.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Sonic Automotive.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS.

A number of equities analysts recently commented on SAH shares. ValuEngine cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 2nd. TheStreet upgraded shares of Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Bank of America Corporation cut shares of Sonic Automotive from a “neutral” rating to an “underperform” rating in a research report on Thursday, October 19th. Finally, KeyCorp restated a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Sonic Automotive has a consensus rating of “Hold” and a consensus price target of $23.67.

Sonic Automotive (NYSE:SAH) traded up $0.21 during trading on Friday, hitting $20.16. 135,780 shares of the stock traded hands, compared to its average volume of 267,809. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The stock has a market cap of $861.74, a PE ratio of 11.81, a P/E/G ratio of 3.65 and a beta of 1.54. Sonic Automotive has a 12-month low of $15.95 and a 12-month high of $27.45.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Thursday, December 14th. Sonic Automotive’s payout ratio is currently 13.07%.

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In other news, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $20.43, for a total transaction of $224,730.00. Following the completion of the transaction, the chief financial officer now directly owns 143,306 shares of the company’s stock, valued at $2,927,741.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total transaction of $171,875.10. Following the transaction, the executive vice president now directly owns 1,262,056 shares of the company’s stock, valued at $25,367,325.60. The disclosure for this sale can be found here. Insiders own 30.29% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Texas Permanent School Fund raised its holdings in shares of Sonic Automotive by 1.2% during the second quarter. Texas Permanent School Fund now owns 19,253 shares of the company’s stock valued at $374,000 after purchasing an additional 223 shares during the last quarter. Capstone Asset Management Co. increased its holdings in Sonic Automotive by 1.4% during the second quarter. Capstone Asset Management Co. now owns 16,133 shares of the company’s stock valued at $314,000 after buying an additional 230 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Sonic Automotive by 4.8% during the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock valued at $178,000 after buying an additional 410 shares during the last quarter. Thrivent Financial For Lutherans increased its holdings in Sonic Automotive by 5.1% during the first quarter. Thrivent Financial For Lutherans now owns 14,960 shares of the company’s stock valued at $300,000 after buying an additional 720 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Sonic Automotive by 0.4% during the second quarter. Principal Financial Group Inc. now owns 200,570 shares of the company’s stock valued at $3,901,000 after buying an additional 786 shares during the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

About Sonic Automotive

Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.

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Earnings History and Estimates for Sonic Automotive (NYSE:SAH)

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