Sonic Automotive, Inc. Announces Quarterly Dividend of $0.35 (NYSE:SAH)

Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Wednesday, February 12th,NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, March 14th.

Sonic Automotive has increased its dividend by an average of 39.6% per year over the last three years. Sonic Automotive has a dividend payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sonic Automotive to earn $6.15 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 22.8%.

Sonic Automotive Stock Down 4.2 %

SAH opened at $71.62 on Thursday. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The stock’s fifty day simple moving average is $67.79 and its 200 day simple moving average is $62.56. Sonic Automotive has a 1-year low of $47.82 and a 1-year high of $76.78. The stock has a market cap of $2.45 billion, a PE ratio of 12.74 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. As a group, research analysts expect that Sonic Automotive will post 5.54 earnings per share for the current year.

Analysts Set New Price Targets

SAH has been the subject of a number of research analyst reports. Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research note on Thursday, January 16th. StockNews.com raised Sonic Automotive from a “hold” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their target price on Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Stephens raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 24th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sonic Automotive has an average rating of “Buy” and a consensus target price of $67.20.

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.