Sonic Corp. (NASDAQ:SONC).
September 28 investment analysts at Barclays kept the company rating at “Underweight” but moved down the price target from $30.00 to $25.00. On August 22 analysts at Canaccord Genuity initiated coverage on SONC with a rating of “Buy”.
On June 24 Jefferies left the stock rating at “Underweight” and lowered the price target to $30.00 from $34.00. March 30 investment analysts at UBS made no change to the stock rating of “Neutral” and moved up the price target from $28.00 to $33.00.
On March 30 Deutsche Bank maintained a company rating of “Hold” and raised the price expectation from $32.00 to $35.00.
The company is trading down since yesterday’s close of $27.44. Additionally Sonic Corp. recently declared a dividend paid on Friday the 19th of August 2016. The dividend was $0.110 per share for the quarter which is $0.44 annualized. The dividend yield was $1.61. The ex-dividend date was Monday the 8th of August 2016.
The stock last traded at $25.82 which is just a bit below $27.72, the 50 day moving average and which is just under the 200 day moving average of $30.08. The 50 day moving average was down by -6.25% and the 200 day average went down by -13.59%.
Sonic Corp.’s P/E ratio is 20.23 and the market cap is 1.24B. As of the latest earnings report the EPS was $1.28 and is projected to be $1.32 for the current year with 47,544,000 shares outstanding. Next quarter’s EPS is forecasted at $0.28 and the next full year EPS is projected to be $1.49.
Traders are a little more bearish on shares of the company as indicated by the increase in short interest. The company realized a rise in short interest between August 31, 2016 and September 15, 2016 of 0.05%. Short shares increased 245,895 over that period. The days to cover decreased to 4.0 and the percentage of shorted shares was 0.12% on September 15.