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

Sonic Automotive, Inc. (NYSE:SAH) declared a quarterly dividend on Wednesday, February 12th,NASDAQ Dividends reports. Shareholders 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 yield of 1.95%. The ex-dividend date of this dividend is Friday, March 14th.

Sonic Automotive has increased its dividend by an average of 39.6% annually over the last three years. Sonic Automotive has a payout ratio of 18.6% indicating that 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 Trading Down 4.2 %

SAH stock traded down $3.14 during mid-day trading on Wednesday, reaching $71.62. The company had a trading volume of 492,522 shares, compared to its average volume of 188,683. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The company has a market capitalization of $2.45 billion, a PE ratio of 12.74 and a beta of 1.68. The firm has a 50 day moving average of $67.72 and a 200 day moving average of $62.50. Sonic Automotive has a 12 month low of $47.82 and a 12 month high of $76.78.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped 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 reaffirmed a “buy” rating and issued a $74.00 price target on shares of Sonic Automotive in a research report on Thursday, January 16th. 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. 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, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Sonic Automotive presently has an average 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.