Sonic Automotive Inc (NYSE:SAH) declared a quarterly dividend on Thursday, October 25th, RTT News reports. Investors of record on Friday, December 14th will be given a dividend of 0.06 per share on Tuesday, January 15th. This represents a $0.24 annualized dividend and a yield of 1.67%. The ex-dividend date is Thursday, December 13th.
Sonic Automotive has increased its dividend by an average of 26.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Sonic Automotive has a payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Sonic Automotive to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 11.9%.
Sonic Automotive stock opened at $14.36 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.21 and a debt-to-equity ratio of 1.19. Sonic Automotive has a 12 month low of $14.24 and a 12 month high of $23.60. The company has a market capitalization of $628.42 million, a P/E ratio of 7.82, a PEG ratio of 3.30 and a beta of 1.56.
Sonic Automotive (NYSE:SAH) last issued its earnings results on Thursday, October 25th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Sonic Automotive had a net margin of 0.91% and a return on equity of 10.27%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, analysts predict that Sonic Automotive will post 1.94 earnings per share for the current year.
A number of equities research analysts have issued reports on SAH shares. Zacks Investment Research cut shares of Sonic Automotive from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 26th. ValuEngine cut shares of Sonic Automotive from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Morgan Stanley lowered their target price on shares of Sonic Automotive from $19.00 to $16.00 and set a “sell” rating on the stock in a report on Wednesday, August 15th. Finally, TheStreet cut shares of Sonic Automotive from a “b-” rating to a “c+” rating in a report on Tuesday, November 20th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.40.
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About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and Pre-Owned Stores. 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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