Sonic Corp. (NASDAQ:SONC).
Canaccord Genuity began coverage of SONC with a rating of “Buy”. June 24 investment analysts at Jefferies left the stock rating at “Underweight” and lowered the price expectation from $34.00 to $30.00.
On March 30 UBS kept the stock rating at “Neutral” but raised the price target to $33.00 from $28.00. March 30 investment analysts at Deutsche Bank maintained a company rating of “Hold” and raised the price target from $32.00 to $35.00.
March 30 investment analysts at Jefferies kept the company rating at “Hold” and moved up the price target to $34.00 from $31.00.
The company is now down by -5.32% since yesterday’s close of $27.44. Additionally the company recently announced a dividend which was paid on Friday August 19th, 2016. The dividend payment was $0.110 per share for the quarter or $0.44 annualized. This dividend represents a yield of $1.61. The ex-dividend date was Monday the 8th of August 2016.
Company chares are trading at $25.98 barely below $27.72, the stock’s 50 day moving average and which is just a bit below the 200 day moving average of $30.08. The 50 day moving average was down by -1.02% and the 200 day average was down $-2.64.
The company’s P/E ratio is 21.35 and the market cap of the company is 1.30B. In the last earnings report the EPS was $1.28 and is expected to be $1.32 for the current year with 47,544,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.28 and the next full year EPS is anticipated to be $1.49.
Investors are a little more bearish on the company recently if you put credence in the motion in short interest. The company experienced a rise in short interest of 0.05% between August 31, 2016 and September 15, 2016. Short interest grew from 5,281,744 to 5,527,639 over that timeframe. With short interest at 5,527,639 and short average daily volume at 1,371,099, days to cover is 4.0 and the percentage of shorted shares was 0.12% on September 15.