NEW YORK (TheStreet) -- Shares of Sonic Corp (SONC) were up 2.24% to $33.30 on heavy volume in afternoon trading Friday, ahead of the casual restaurant chain's fiscal third quarter earnings release, expected after the market closes on Monday.
Wall Street analysts are expecting profits of 36 cents per share for the quarter, an improvement from the 30 cents it reported in the same quarter of last year.
Revenue is expected by analysts to come in at $164.17 million, up from the $152.19 million Sonic posted a year ago.
About 801,708 shares have exchanged hands as of 1:29 p.m. ET today, compared to its average trading volume of about 726,287 shares a day.
Oklahoma City-based Sonic operates and franchises a chain of drive-in restaurants serving food items, such as specialty drinks, ice cream desserts, made-to-order sandwiches and hamburgers, hot dogs, hand-battered onion rings, tater tots and wraps.
Separately, TheStreet Ratings team rates SONIC CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SONIC CORP (SONC) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall."