Sonic Corp. Services | Restaurants | USA Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of August 31, 2015, the company operated 3,526 Sonic Drive-Ins in 44 states, which included 387 company drive-ins and 3,139 franchise drive-ins. It also leases real estate properties. The company was founded in 1953 and is headquartered in Oklahoma City, Oklahoma.
Back-filled the earnings gap, but looks like its set to bounce back up. Harami formed after RSI hit 30. Price and 50 sma still above the 200 sma. Restaurant stocks may be getting stronger (JACK, YUM, MCD I guess).
Reported after close today (6/23/16) Earnings: EPS $0.43 Revenue $165.24M Estimates: EPS $0.42 Revenue $166.16M Down 6% after hours so far
Reported after close today (10/24/16) Earnings: EPS $0.45 Revenue $162.1M Estimates: EPS $0.44 Revenue $167.15M Down 11.29% after hours
Sonic (SONC) Stock Tumbles on Q4 Revenue Miss, Stephens Downgrades https://www.thestreet.com/story/138...ephens-downgrades.html?puc=yahoo&cm_ven=YAHOO
Analyst Upgrade/Downgrade Update Brokerage firm: Telsey Advisory Group Change: Downgrade Previous Rating: Outperform Current Rating: Market Perform Previous Price Target: $36 Current Price Target: $27
Analyst Upgrade/Downgrade Update Brokerage firm: Deutsche Bank Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: Hold Previous Price Target: $27 Current Price Target: $25 Analyst Upgrade/Downgrade Update Brokerage firm: Canaccord Genuity Change: Coverage Reiterated/Price Target Changed Previous Rating: N/A Current Rating: Buy Previous Price Target: $32 Current Price Target: $30
Upcoming dividend information: Ex-Div-Date: 11/7/16 Payment Date: 11/18/16 Dividend: $0.14 Current Price: $26.49 Annual Yield: 1.66%
Sonic ($SONC) reported second quarter earnings that came in slightly above estimates, although the restaurant chain’s revenues came in below expectations.
What a volatile day after ER. Opened -5%, then went +14% from there; finished the day +4.8%. Raising the dividend and 22% of the float is short. Weekly chart:
Nice find. I like that support at $22.50-$23ish. Wish I would have seen this earlier. Short squeeze could take this back up to $35 in the coming months, which would be quite the gainer.
Sonic remains a buyback play. The company is focused on returning capital to shareholders; it pays a decent dividend but also buys back a ton of stock.