Sonic Automotive, Inc. (NYSE:SAH) Plans $0.38 Quarterly Dividend

Sonic Automotive, Inc. (NYSE:SAH) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Friday, March 13th will be given a dividend of 0.38 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th.

Sonic Automotive has raised its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Sonic Automotive has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Sonic Automotive to earn $7.51 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 20.2%.

Sonic Automotive Price Performance

SAH traded up $4.72 during trading on Wednesday, reaching $63.00. 484,552 shares of the company were exchanged, compared to its average volume of 192,933. Sonic Automotive has a 12-month low of $52.00 and a 12-month high of $89.62. The company’s 50-day moving average is $62.71 and its two-hundred day moving average is $68.96. The company has a quick ratio of 0.27, a current ratio of 1.02 and a debt-to-equity ratio of 1.68. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 17.03 and a beta of 0.93.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, February 18th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Sonic Automotive had a net margin of 0.86% and a return on equity of 21.65%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the firm earned $1.51 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts forecast that Sonic Automotive will post 6.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sonic Automotive

A number of large investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after purchasing an additional 397 shares in the last quarter. Camelot Portfolios LLC bought a new stake in Sonic Automotive in the 4th quarter worth approximately $41,000. Torren Management LLC purchased a new stake in Sonic Automotive in the fourth quarter worth approximately $50,000. Aster Capital Management DIFC Ltd bought a new position in Sonic Automotive during the third quarter valued at approximately $63,000. Finally, National Bank of Canada FI purchased a new position in shares of Sonic Automotive during the third quarter worth approximately $78,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.