Why Sonic Corp. (NASDAQ:SONC) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $35.920 on Sonic Corp. (NASDAQ:SONC) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.330 for the next fiscal and $N/A for underway quarter. Valuation Estimates Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Sonic Corp. (NASDAQ:SONC) stands at 21.942. Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Sonic Corp., the PEG ratio for coming 3-5 years is 1.160. Technical Analysis The technical analysis highlights that Sonic Corp. current price is trading $-0.806 points away -2.781% from $29.001, which stands as the 50-day moving average of the firm. The stock’s 200-day MA is $30.897 and, for now, the stock price is trading $-2.702 or -8.745% away from that point. The 52-week high of Sonic Corp. (NASDAQ:SONC) was $36.340 while lowest point recorded in 52-week was $22.720. It implies if stock price makes a movement of over $-8.145, it will record a new 52-week high. In the case of $+24.098% points drop, it will touch a new 52-week low.

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