Fintel reports that on April 26, 2024, B of A Securities upgraded their outlook for Sonic Automotive (NYSE:SAH) from Underperform to Buy.
Analyst Price Forecast Suggests 11.78% Downside
As of April 17, 2024, the average one-year price target for Sonic Automotive is 54.91. The forecasts range from a low of 40.40 to a high of $66.15. The average price target represents a decrease of 11.78% from its latest reported closing price of 62.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sonic Automotive is 15,815MM, an increase of 10.86%. The projected annual non-GAAP EPS is 7.85.
Sonic Automotive Declares $0.30 Dividend
On February 14, 2024 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of March 15, 2024 received the payment on April 15, 2024. Previously, the company paid $0.30 per share.
At the current share price of 62.24 / share, the stocks dividend yield is {1}%.
The current dividend yield is 0.38 standard deviations above the historical average.
Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 444 funds or institutions reporting positions in Sonic Automotive. This is an decrease of 5 owner(s) or 1.11% in the last quarter. Average portfolio weight of all funds dedicated to SAH is 0.09%, an increase of 8.90%. Total shares owned by institutions increased in the last three months by 0.07% to 19,108K shares. 
The put/call ratio of SAH is 1.07, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR – iShares Core S&P Small-Cap ETF holds 994K shares representing 2.92% ownership of the company. In its prior filing, the firm reported owning 1,075K shares , representing a decrease of 8.12%. The firm decreased its portfolio allocation in SAH by 5.86% over the last quarter.
Hotchkis & Wiley Capital Management holds 892K shares representing 2.61% ownership of the company. In its prior filing, the firm reported owning 915K shares , representing a decrease of 2.58%. The firm increased its portfolio allocation in SAH by 7.65% over the last quarter.
Millennium Management holds 811K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 490K shares , representing an increase of 39.56%. The firm increased its portfolio allocation in SAH by 66.92% over the last quarter.
Macquarie Group holds 573K shares representing 1.68% ownership of the company. In its prior filing, the firm reported owning 575K shares , representing a decrease of 0.42%. The firm increased its portfolio allocation in SAH by 7.78% over the last quarter.
Westwood Holdings Group holds 560K shares representing 1.64% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Sonic Automotive Background Information
(This description is provided by the company.)
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is one of the nation’s largest automotive retailers.
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