Sonic Automotive (NYSE:SAH) issued an update on its third quarter 2020
Pre-Market earnings guidance on Tuesday morning. The company provided EPS guidance of 1.08-1.15 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.08. Sonic Automotive also updated its Q3 guidance to $1.08-1.15 EPS.

A number of brokerages have issued reports on SAH. Zacks Investment Research reaffirmed a buy rating on shares of Sonic Automotive in a report on Thursday, July 2nd. Morgan Stanley increased their price objective on shares of Sonic Automotive from $35.00 to $38.00 and gave the company an equal weight rating in a report on Wednesday, August 5th. Benchmark increased their price objective on shares of Sonic Automotive from $27.50 to $39.00 and gave the company a buy rating in a report on Wednesday, June 17th. ValuEngine raised shares of Sonic Automotive from a strong sell rating to a sell rating in a report on Tuesday, September 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sonic Automotive from $38.00 to $39.00 and gave the company a neutral rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Sonic Automotive currently has a consensus rating of Hold and a consensus target price of $39.00.

SAH stock opened at $42.53 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.32 and a current ratio of 0.99. The firm has a fifty day moving average price of $42.32 and a 200 day moving average price of $28.77. The firm has a market cap of $1.81 billion, a PE ratio of -18.74 and a beta of 2.78. Sonic Automotive has a fifty-two week low of $9.00 and a fifty-two week high of $46.50.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.31 by $0.33. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Sonic Automotive had a negative net margin of 0.94% and a positive return on equity of 14.21%. Sonic Automotive’s quarterly revenue was down 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Sonic Automotive will post 3.43 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. Sonic Automotive’s dividend payout ratio (DPR) is 15.09%.

In other Sonic Automotive news, CEO David Bruton Smith sold 5,999 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $45.00, for a total value of $269,955.00. Following the completion of the transaction, the chief executive officer now directly owns 387,865 shares in the company, valued at $17,453,925. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Heath Byrd sold 7,565 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $35.01, for a total transaction of $264,850.65. Following the completion of the transaction, the chief financial officer now owns 141,801 shares of the company’s stock, valued at $4,964,453.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,445 shares of company stock valued at $3,262,467. Corporate insiders own 33.01% of the company’s stock.

Sonic Automotive Company Profile

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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