News coverage about Sonic (NASDAQ:SONC) has trended somewhat positive recently, according to Accern Sentiment. The research group identifies negative and positive news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Sonic earned a news impact score of 0.07 on Accern’s scale. Accern also assigned media coverage about the restaurant operator an impact score of 44.4252768823177 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Sonic Foundry to Postpone Earnings Conference Call for its Fourth Quarter and Fiscal 2017 Results (markets.financialcontent.com)
- Give the Gifts That Keep on Giving With Rockwell’s New Random Orbit Sander with Vibrafree and 20V Brushless Sonicrafter (prweb.com)
- Carolyn C. Cummins Sells 1,200 Shares of Sonic Corp. (SONC) Stock (americanbankingnews.com)
- Sonic expands gigabit fiber service to Berkeley, parts of Oakland and more (finance.yahoo.com)
- Gigabit fiber service is expanding throughout parts of East Bay (feeds.bizjournals.com)
Shares of Sonic (NASDAQ SONC) opened at $27.32 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of -3.19. The stock has a market capitalization of $1,100.05, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.39 and a beta of 1.74. Sonic has a 12 month low of $22.11 and a 12 month high of $30.05.
Sonic (NASDAQ:SONC) last released its earnings results on Monday, October 16th. The restaurant operator reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $123.60 million for the quarter, compared to the consensus estimate of $126.01 million. Sonic had a negative return on equity of 33.92% and a net margin of 13.34%. Sonic’s quarterly revenue was down 23.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 earnings per share. equities research analysts forecast that Sonic will post 1.34 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Wednesday, November 8th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Sonic’s previous quarterly dividend of $0.14. Sonic’s payout ratio is currently 43.54%.
Sonic announced that its board has initiated a share repurchase plan on Thursday, October 26th that authorizes the company to repurchase $160.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to buy up to 14.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several analysts have issued reports on SONC shares. Oppenheimer reissued a “buy” rating and issued a $29.00 price target on shares of Sonic in a research note on Friday, October 6th. Zacks Investment Research downgraded Sonic from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Finally, Bank of America reissued a “buy” rating and issued a $30.00 price target on shares of Sonic in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Sonic currently has an average rating of “Hold” and an average target price of $27.73.
In related news, Director Frank E. Richardson III sold 50,000 shares of Sonic stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $25.59, for a total value of $1,279,500.00. Following the sale, the director now owns 1,187,659 shares of the company’s stock, valued at $30,392,193.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Carolyn C. Cummins sold 1,200 shares of Sonic stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $27.02, for a total value of $32,424.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 63,917 shares of company stock worth $1,633,116. 6.24% of the stock is owned by company insiders.
Sonic Company Profile
Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.
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