What is Seaport Res Ptn’s Forecast for SAH FY2024 Earnings?

Sonic Automotive, Inc. (NYSE:SAH) – Research analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for shares of Sonic Automotive in a research report issued on Thursday, January 16th. Seaport Res Ptn analyst G. Chin now forecasts that the company will earn $5.49 per share for the year, down from their prior forecast of $5.50. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for Sonic Automotive’s current full-year earnings is $5.60 per share. Seaport Res Ptn also issued estimates for Sonic Automotive’s Q4 2024 earnings at $1.40 EPS and FY2025 earnings at $6.11 EPS.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis.

Several other research firms have also recently weighed in on SAH. Bank of America lowered their price objective on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their price objective on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a research note on Friday. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Sonic Automotive in a research note on Thursday. Finally, Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.20.

Sonic Automotive Stock Performance

Shares of NYSE SAH opened at $68.39 on Monday. The firm’s 50-day moving average price is $65.64 and its two-hundred day moving average price is $60.48. The stock has a market capitalization of $2.34 billion, a P/E ratio of 12.17 and a beta of 1.67. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $70.88.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.35 per share. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, December 13th. This represents a $1.40 annualized dividend and a dividend yield of 2.05%. Sonic Automotive’s dividend payout ratio is currently 24.91%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SAH. SG Americas Securities LLC bought a new position in Sonic Automotive in the 4th quarter valued at about $244,000. Harbor Capital Advisors Inc. boosted its position in Sonic Automotive by 1.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company’s stock worth $3,570,000 after purchasing an additional 978 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Sonic Automotive by 68.6% in the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after acquiring an additional 21,650 shares during the period. Franklin Resources Inc. boosted its position in shares of Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company’s stock valued at $530,000 after acquiring an additional 609 shares during the period. Finally, Barclays PLC raised its stake in Sonic Automotive by 346.1% in the third quarter. Barclays PLC now owns 24,413 shares of the company’s stock valued at $1,427,000 after purchasing an additional 18,940 shares in the last quarter. 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.