Sonic Corporation (NASDAQ:SONC) reported on Monday that its fiscal Q2 net income over doubled and it anticipates a key sales measure to get better in the year ahead.
Investors saying that as a sign that marketing and menu alters to entice customers may be paying off. The news sent the force-in restaurant chain’s increase in after-hours trading.
Sonic declared net income of $3.6M, or 6 cents a share, for the quarter that ended Feb. 28. That evaluates with net income of $1.7M or 3 cents a share, a year before. Following adjusting for the costs tied to an early debt payoff and a tax benefit for the reinstatement of a special tax credit, the firm garneted 5 cents a share.
Shares of Sonic Corporation (NASDAQ:SONC) traded at $11.73 by plunging -1.01% with price volatility of 3.08% for a week and 2.54% for a month plus price volatility’s Average True Range for 14 days was 0.32 and its beta stands at 1.43 times.
Stocks after opening at $11.92 hit high price of $12.05 and on last session stock held volume of 897,000 shares which was unexpectedly higher than its average volume of 378,380 shares.
Short-term as well long term investors always focus on the liquidity of the stocks so for that concern, liquidity measure in recent quarter results of the company was recorded 1.74 as current ratio and on the opponent side the debt to equity ratio was 10.46 and long-term debt to equity ratio also remained 10.05. The Company had total cash at hand $42.73 million and a book value per share as $0.87 in the most recent quarter.
While investors who viewing SONC against other stocks with the reference of profit margin that are McDonald’s Corporation (NYSE:MCD) having profit margin 19.82%, Yum! Brands, Inc. (NYSE:YUM) with 11.79% profit margin, The Wendy’s Company (NASDAQ:WEN) having 0.16% profit margin and Brinker International, Inc. (NYSE:EAT) having profit margin of 5.52%.
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