Sonic Corp's Shares Felt After Downgrade To Underweight (SONC)
Fri. September 18, 2009; Posted: 01:46 PM
Sep 18, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 9/18/2009 - Sonic Corp.'s (NASDAQ:SONC) shares fell 3% on Friday after a Piper Jaffray analyst downgraded the stock to "underweight" from "neutral" and lowered earnings estimates for 2009. Analyst Nicole Miller Regan issued the downgrade because she said she did not see anything upcoming that would cause the share price to go up. Regan lowered 2009 profit estimates by a penny to 71 cents per share, which is inline with the consensus estimates. She also lowered the 2010 profit expectation by 4 cents to 78 cents per share, vs. the consensus estimates of 81 cents per share.
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