Jefferies Financial Group Weighs in on Sonic Automotive, Inc.’s Q3 2022 Earnings (NYSE:SAH)

Sonic Automotive, Inc. (NYSE:SAH – Get Score) – Jefferies Financial Team upped their Q3 2022 EPS estimates for Sonic Automotive in a notice issued to buyers on Thursday, July 28th. Jefferies Economical Team analyst B. Jordan now anticipates that the firm will submit earnings of $2.60 per share for the quarter, up from their former estimate of $2.52. The consensus estimate for Sonic Automotive’s current full-yr earnings is $10.06 per share. Jefferies Fiscal Team also issued estimates for Sonic Automotive’s Q4 2022 earnings at $2.71 EPS, FY2022 earnings at $10.08 EPS, Q1 2023 earnings at $2.02 EPS, Q2 2023 earnings at $2.11 EPS, Q3 2023 earnings at $2.14 EPS, Q4 2023 earnings at $2.50 EPS and FY2023 earnings at $8.78 EPS.

Sonic Automotive (NYSE:SAH – Get Score) previous introduced its quarterly earnings outcomes on Thursday, July 28th. The corporation claimed $2.45 earnings for every share (EPS) for the quarter, lacking the consensus estimate of $2.55 by ($.10). Sonic Automotive experienced a return on equity of 39.37% and a net margin of 2.97%. The company experienced income of $3.65 billion for the duration of the quarter, in contrast to analysts’ anticipations of $3.90 billion. Throughout the similar period in the prior year, the business posted $2.63 earnings for each share. Sonic Automotive’s profits for the quarter was up 8.9% as opposed to the identical quarter previous year.

A quantity of other equities analysis analysts have also weighed in on SAH. StockNews.com reduced shares of Sonic Automotive from a “buy” rating to a “hold” rating in a report on Friday, July 15th. JPMorgan Chase & Co. dropped their cost aim on shares of Sonic Automotive from $51.00 to $47.00 in a report on Friday, July 15th. Morgan Stanley dropped their price goal on shares of Sonic Automotive from $40.00 to $33.00 and established an “underweight” rating on the inventory in a report on Thursday, July 14th. Eventually, Seaport Res Ptn lowered shares of Sonic Automotive from a “buy” rating to a “neutral” score in a report on Friday, April 29th.

Sonic Automotive Selling price Performance

NYSE SAH opened at $41.85 on Monday. The organization has a industry capitalization of $1.66 billion, a P/E ratio of 4.57 and a beta of 2.07. The business has a current ratio of 1.10, a quick ratio of .46 and a debt-to-equity ratio of 1.45. Sonic Automotive has a 12-thirty day period lower of $34.17 and a 12-month higher of $58.00. The firm’s fifty day straightforward transferring normal is $39.99 and its two-hundred working day basic moving ordinary is $44.67.

Sonic Automotive Dividend Announcement

The business also not long ago introduced a quarterly dividend, which will be compensated on Friday, Oct 14th. Traders of history on Thursday, September 15th will be supplied a dividend of $.25 for each share. The ex-dividend date is Wednesday, September 14th. This represents a $1.00 dividend on an annualized foundation and a generate of 2.39%. Sonic Automotive’s dividend payout ratio is presently 10.92%.

Institutional Inflows and Outflows

Institutional investors and hedge cash have not long ago added to or lowered their stakes in the business enterprise. Stage72 Hong Kong Ltd acquired a new position in Sonic Automotive through the to start with quarter valued at $26,000. Pinebridge Investments L.P. obtained a new placement in shares of Sonic Automotive in the fourth quarter really worth about $45,000. Counterpoint Mutual Money LLC obtained a new placement in shares of Sonic Automotive in the next quarter worthy of about $96,000. Islay Funds Administration LLC elevated its posture in shares of Sonic Automotive by 66.5% in the fourth quarter. Islay Funds Management LLC now owns 3,871 shares of the company’s stock really worth $191,000 just after buying an extra 1,546 shares in the course of the period of time. Lastly, Janney Montgomery Scott LLC obtained a new place in shares of Sonic Automotive in the fourth quarter value about $213,000. 59.34% of the stock is currently owned by institutional buyers and hedge funds.

Sonic Automotive Enterprise Profile

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Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. The Franchised Dealerships phase is concerned in the sale of new and applied autos and light-weight vehicles, and replacement parts provision of automobile upkeep, company warranty repair service, and paint and collision mend expert services and arrangement of extended warranties, services contracts, financing, insurance coverage, and other aftermarket merchandise for its guests.

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