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

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Wednesday, February 12th,NASDAQ Dividends reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.35 per share on Tuesday, April 15th. This represents a $1.40 dividend on an annualized basis 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. Research 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 Price Performance

NYSE SAH opened at $71.62 on Thursday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 12.74 and a beta of 1.68. The business has a 50 day simple moving average of $67.79 and a 200 day simple moving average of $62.56. Sonic Automotive has a 52-week low of $47.82 and a 52-week high of $76.78.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. Analysts anticipate that Sonic Automotive will post 5.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About Sonic Automotive

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.