Sonic Automotive, Inc. Announces Quarterly Dividend of $0.10 (NYSE:SAH)

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Thursday, October 29th, Zacks reports. Shareholders of record on Tuesday, December 15th will be given a dividend of 0.10 per share on Friday, January 15th. This represents a $0.40 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, December 14th.

Sonic Automotive has raised its dividend payment by 100.0% over the last three years and has increased its dividend every year for the last 2 years.

NYSE SAH traded down $1.10 on Friday, hitting $35.64. The stock had a trading volume of 1,386 shares, compared to its average volume of 446,842. Sonic Automotive has a 52-week low of $9.00 and a 52-week high of $46.84. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.32 and a current ratio of 0.99. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -15.70 and a beta of 2.76. The firm has a 50-day moving average of $40.62 and a 200-day moving average of $33.56.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, October 29th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.21. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Sonic Automotive had a negative net margin of 0.94% and a positive return on equity of 14.21%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, research analysts anticipate that Sonic Automotive will post 3.46 earnings per share for the current fiscal year.

Several research firms have recently weighed in on SAH. Morgan Stanley raised their price objective on shares of Sonic Automotive from $35.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Sonic Automotive from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Zacks Investment Research restated a “buy” rating on shares of Sonic Automotive in a research report on Thursday, July 2nd. Seaport Global Securities began coverage on shares of Sonic Automotive in a research report on Monday, October 19th. They set a “buy” rating and a $47.00 price objective on the stock. Finally, ValuEngine upgraded shares of Sonic Automotive from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $43.80.

In related news, CEO David Bruton Smith sold 5,999 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $45.00, for a total transaction of $269,955.00. Following the completion of the sale, the chief executive officer now directly owns 387,865 shares in the company, valued at $17,453,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Heath Byrd sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $40.83, for a total transaction of $816,600.00. Following the sale, the chief financial officer now owns 114,236 shares of the company’s stock, valued at $4,664,255.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,945 shares of company stock valued at $1,579,891. 33.01% of the stock is currently owned by corporate insiders.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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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Dividend History for Sonic Automotive (NYSE:SAH)

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