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

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 paid 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 raised its dividend by an average of 39.6% per year over the last three years. Sonic Automotive has a payout ratio of 18.6% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of SAH stock traded down $3.14 during mid-day trading on Wednesday, reaching $71.62. 492,522 shares of the company’s stock traded hands, compared to its average volume of 188,683. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78. The firm has a 50 day moving average price of $67.72 and a two-hundred day moving average price of $62.50. The firm has a market capitalization of $2.45 billion, a PE ratio of 12.74 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating 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%. On average, research analysts forecast that Sonic Automotive will post 5.54 EPS for the current year.

Analysts Set New Price Targets

SAH has been the topic of a number of analyst reports. Seaport Res Ptn upgraded shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $75.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research note 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 equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company 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.