Seaport Res Ptn Has Pessimistic Outlook of SAH Q3 Earnings

Sonic Automotive, Inc. (NYSE:SAH) – Equities researchers at Seaport Res Ptn decreased their Q3 2024 earnings per share estimates for shares of Sonic Automotive in a research note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now forecasts that the company will post earnings per share of $1.38 for the quarter, down from their prior estimate of $1.58. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.67 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q4 2024 earnings at $1.49 EPS and FY2025 earnings at $6.16 EPS.

SAH has been the subject of a number of other reports. Bank of America dropped their price target on 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 raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $58.00 in a research report on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Stephens initiated coverage on Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price for the company. Finally, Needham & Company LLC initiated coverage on Sonic Automotive in a research report on Tuesday, August 20th. They set a “buy” rating and a $73.00 target price for the company. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of “Moderate Buy” and an average target price of $66.33.

Sonic Automotive Stock Down 1.1 %

Shares of SAH opened at $54.26 on Tuesday. Sonic Automotive has a 52 week low of $42.57 and a 52 week high of $64.68. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 10.03 and a beta of 1.60. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.36 and a current ratio of 1.10. The stock has a fifty day moving average of $57.89 and a 200-day moving average of $56.56.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Monday, August 5th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the company earned $1.83 EPS. Sonic Automotive’s revenue was down 5.5% compared to the same quarter last year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, September 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.21%. Sonic Automotive’s payout ratio is currently 22.18%.

Institutional Trading of Sonic Automotive

A number of large investors have recently bought and sold shares of the business. Inspire Investing LLC grew its holdings in Sonic Automotive by 8.7% during the 3rd quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock worth $411,000 after acquiring an additional 561 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Sonic Automotive during the 2nd quarter worth about $1,351,000. Point72 DIFC Ltd grew its holdings in Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after acquiring an additional 187 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Sonic Automotive during the 2nd quarter worth about $645,000. Finally, Millennium Management LLC grew its holdings in Sonic Automotive by 3.8% during the 2nd quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock worth $24,870,000 after acquiring an additional 16,556 shares during the period. 46.92% of the stock is currently owned by institutional investors and hedge funds.

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.