Seaport Res Ptn Expects Weaker Earnings for Sonic Automotive

Sonic Automotive, Inc. (NYSE:SAH) – Seaport Res Ptn lowered their Q3 2024 EPS estimates for Sonic Automotive in a note issued to investors on Sunday, October 20th. Seaport Res Ptn analyst G. Chin now anticipates that the company will post earnings per share of $1.38 for the quarter, down from their prior forecast 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.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.09. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.56 billion. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share.

A number of other brokerages have also issued reports on SAH. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Needham & Company LLC began coverage on shares of Sonic Automotive in a research note on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price target for the company. Stephens began coverage on shares of Sonic Automotive in a research note on Thursday, September 12th. They set an “equal weight” rating and a $64.00 target price for the company. Bank of America lowered their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley upgraded shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.33.

Sonic Automotive Stock Down 3.2 %

Shares of NYSE:SAH opened at $54.83 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. The company has a fifty day simple moving average of $57.95 and a 200 day simple moving average of $56.55. The firm has a market cap of $1.87 billion, a PE ratio of 10.13 and a beta of 1.60. Sonic Automotive has a 12-month low of $42.57 and a 12-month high of $64.68.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, September 13th. Sonic Automotive’s dividend payout ratio (DPR) is 22.18%.

Hedge Funds Weigh In On Sonic Automotive

Several hedge funds and other institutional investors have recently modified their holdings of the company. Inspire Investing LLC boosted its holdings in shares of Sonic Automotive by 8.7% during the third quarter. Inspire Investing LLC now owns 7,036 shares of the company’s stock valued at $411,000 after acquiring an additional 561 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Sonic Automotive during the second quarter valued at $1,351,000. Point72 DIFC Ltd boosted its holdings in shares of Sonic Automotive by 6.9% during the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock valued at $158,000 after acquiring an additional 187 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Sonic Automotive during the second quarter valued at $645,000. Finally, Millennium Management LLC boosted its holdings in shares of Sonic Automotive by 3.8% during the second quarter. Millennium Management LLC now owns 456,588 shares of the company’s stock valued at $24,870,000 after acquiring an additional 16,556 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Company Profile

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.