The company’s mean estimate for sales for the current quarter ending June-16 is 2.49 billion by 7 analysts. The means estimate of sales for the year ending Dec-16 is 9.85 million by 10 analysts.
The mean price target for the shares of Sonic Automotive Inc (NYSE:SAH) is at 23.07 while the highest price target suggested by the analysts is 30.00 and low price target is 17.00. The mean price target is calculated keeping in view the consensus of 7 brokerage firms.
The average estimate of EPS for the current fiscal quarter for Sonic Automotive Inc (NYSE:SAH) stands at 0.50 while the EPS for the current year is fixed at 2.15 by 10 analysts.
The next one year’s EPS estimate is set at 2.35 by 11 analysts while a year ago the analysts suggested the company’s EPS at 2.15. The analysts also projected the company’s long-term growth at 11.00% for the upcoming five years.
In its latest quarter ended on 31st March 2016, Sonic Automotive Inc (NYSE:SAH) reported earnings of $0.39. In the matter of earnings surprises, the term “Cockroach Effect” is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
On April 26, 2016 Sonic Automotive Inc (NYSE:SAH) reported adjusted net income from continuing operations for the first quarter of 2016 of $18.2 million, or $0.39 per diluted share. Included in these adjusted amounts are pre-tax expenses of $3.6 million, or $0.05 per diluted share, related to the Company’s EchoPark® operations. Adjusted net income from continuing operations and related diluted earnings per share are non-GAAP financial measures. The schedules included in this press release reconcile these non-GAAP financial measures to the comparable GAAP financial measures.
Adjusted net income from continuing operations for the first quarter of 2015 was $18.8 million, or $0.37 per diluted share. Included in these adjusted amounts are pre-tax expenses of $4.9 million, or $0.06 per share, related to the Company’s EchoPark® operations.
On a GAAP basis, net income from continuing operations and related diluted earnings per share for the first quarter of 2016 were $14.5 million and $0.31 per share, respectively, compared to $14.4 million and $0.28 per diluted share, respectively, for the first quarter of 2015.
Jeff Dyke, Sonic’s EVP of Operations, stated, “We are pleased with our operating results during the quarter. Strong performances in the fixed operations and the F&I areas drove the overall increase in gross profit to record levels. We continued to see gross profit compression in new vehicles and expect this to continue until inventory supply corrects to more normalized levels. The used vehicle market continues to demonstrate its resiliency despite the compression related to new vehicles. Our EchoPark® stores continue to grow and mature. The expansion in Denver is on schedule and we anticipate opening two additional stores in the second quarter of 2016 and another by the end of the year. We are also happy to announce we will be introducing the EchoPark® brand to the Texas and Carolinas markets in 2017 where we have been actively accumulating property.”
- Scott Smith, the Company’s Chief Executive Officer, noted, “Execution of our core strategies continued in the first quarter. Our commitment to return capital through dividends and share repurchases has rewarded our long-term stockholders. Subsequent to the end of the quarter, we repurchased an additional 363,000 shares for approximately $6.4 million. In addition to the real estate and construction activities related to EchoPark®, we are aggressively replacing leased properties with image-compliant facilities on owned land. We anticipate investing approximately $250 million in land and facilities in the current year funded by mortgages and cash generated through operations. These hard assets are the cornerstones of our long-term plan. We are maintaining our guidance of adjusted diluted earnings per share from continuing operations for 2016 to be between $2.07 and $2.17 per share.”
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