Brokerages Expect Sunoco LP (NYSE:SUN) to Announce $0.75 Earnings Per Share

Equities analysts expect Sunoco LP (NYSE:SUN) to announce $0.75 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sunoco’s earnings, with the highest EPS estimate coming in at $0.94 and the lowest estimate coming in at $0.51. Sunoco posted earnings of $1.15 per share during the same quarter last year, which indicates a negative year over year growth rate of 34.8%. The business is expected to announce its next earnings report on Wednesday, November 6th.

According to Zacks, analysts expect that Sunoco will report full-year earnings of $2.83 per share for the current year, with EPS estimates ranging from $2.77 to $2.89. For the next year, analysts anticipate that the business will report earnings of $2.65 per share, with EPS estimates ranging from $1.80 to $3.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Sunoco.

Sunoco (NYSE:SUN) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.31). The company had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Sunoco had a net margin of 1.21% and a return on equity of 35.57%. The business’s quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS.

A number of equities research analysts recently weighed in on the company. ValuEngine downgraded Sunoco from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James reduced their price objective on Sunoco from $35.00 to $33.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Sunoco in a research note on Thursday, May 9th. Zacks Investment Research cut Sunoco from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus set a $34.00 price objective on Sunoco and gave the stock a “hold” rating in a research note on Monday, August 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.80.

A number of hedge funds have recently made changes to their positions in the stock. Griffin Asset Management Inc. purchased a new position in shares of Sunoco during the 2nd quarter worth approximately $33,000. Royal Bank of Canada increased its stake in Sunoco by 2.5% in the 2nd quarter. Royal Bank of Canada now owns 33,232 shares of the oil and gas company’s stock valued at $1,039,000 after purchasing an additional 822 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Sunoco by 44.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 15,340 shares of the oil and gas company’s stock valued at $480,000 after purchasing an additional 4,700 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Sunoco in the 2nd quarter valued at approximately $287,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in Sunoco in the 2nd quarter valued at approximately $59,000. Institutional investors own 28.98% of the company’s stock.

Shares of Sunoco stock traded up $0.39 during trading on Friday, hitting $30.98. 137,805 shares of the stock traded hands, compared to its average volume of 381,105. Sunoco has a 52-week low of $23.80 and a 52-week high of $34.09. The stock’s fifty day simple moving average is $32.35 and its 200 day simple moving average is $30.97. The firm has a market cap of $3.05 billion, a P/E ratio of 12.01 and a beta of 0.81. The company has a current ratio of 1.24, a quick ratio of 0.78 and a debt-to-equity ratio of 4.51.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a dividend of $0.8255 per share. This represents a $3.30 annualized dividend and a yield of 10.66%. The ex-dividend date was Monday, August 5th. Sunoco’s dividend payout ratio is currently 127.91%.

About Sunoco

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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Earnings History and Estimates for Sunoco (NYSE:SUN)

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