Media coverage about Sonic (NASDAQ:SONC) has trended somewhat positive this week, AlphaOne reports. AlphaOne, a subsidiary of Accern, rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Sonic earned a media sentiment score of 0.12 on AlphaOne’s scale. AlphaOne also assigned press coverage about Sonic an impact score of 46 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have impacted Alpha One Sentiment’s scoring:
- Jefferies Group LLC Reiterates Hold Rating for Sonic Co. (SONC) (americanbankingnews.com)
- Are Sonic’s Earnings a Sign for Value Investors? (investopedia.com)
- William Blair Comments on Sonic Co.’s Q3 2017 Earnings (SONC) (americanbankingnews.com)
- Sonic Co. (SONC) to Post Q3 2017 Earnings of $0.41 Per Share, Oppenheimer Holdings Forecasts (americanbankingnews.com)
- Jefferies Group Weighs in on Sonic Co.’s Q3 2017 Earnings (SONC) (americanbankingnews.com)
Shares of Sonic (NASDAQ:SONC) traded up 2.31% during mid-day trading on Wednesday, hitting $25.64. 2,124,209 shares of the company’s stock traded hands. The firm has a 50-day moving average of $24.67 and a 200 day moving average of $25.70. Sonic has a 52 week low of $21.12 and a 52 week high of $36.34. The company has a market cap of $1.12 billion, a PE ratio of 18.61 and a beta of 1.49.
Sonic (NASDAQ:SONC) last posted its quarterly earnings results on Tuesday, March 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $100.20 million for the quarter, compared to analyst estimates of $104.32 million. Sonic had a net margin of 10.97% and a negative return on equity of 88.45%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Equities research analysts predict that Sonic will post $1.26 EPS for the current year.
Several research analysts have recently commented on the company. Jefferies Group LLC reissued a “hold” rating and issued a $26.00 target price on shares of Sonic in a report on Wednesday, March 29th. Cowen and Company dropped their price objective on shares of Sonic from $24.00 to $23.00 and set a “market perform” rating for the company in a research report on Wednesday, March 29th. Barclays PLC dropped their price objective on shares of Sonic from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, March 29th. Canaccord Genuity cut shares of Sonic from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.00 to $24.00 in a research report on Monday, March 20th. Finally, Zacks Investment Research cut shares of Sonic from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.46.
In related news, Director Frank E. Richardson III sold 4,685 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $27.57, for a total transaction of $129,165.45. Following the sale, the director now owns 1,290,728 shares in the company, valued at approximately $35,585,370.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harold A. Ceron sold 3,112 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $27.02, for a total transaction of $84,086.24. The disclosure for this sale can be found here. Company insiders own 6.24% of the company’s stock.
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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