Delek US Holdings Stock Price Up 6.2% Following Strong Earnings (DK)
Shares of Delek US Holdings (NYSE:DK) rose 6.2% during mid-day trading on Thursday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. The stock traded as high as $32.03 and last traded at $31.04, with a volume of 678,136 shares. The stock had previously closed at $29.24.
The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.05%.
DK has been the subject of a number of recent research reports. Analysts at Simmons upgraded shares of Delek US Holdings from a “neutral” rating to an “overweight” rating in a research note on Thursday. Separately, analysts at Wolfe Research upgraded shares of Delek US Holdings from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. Finally, analysts at Howard Weil upgraded shares of Delek US Holdings from a “sector outperform” rating to a “focus stock” rating in a research note on Monday, July 28th. They now have a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Delek US Holdings currently has a consensus rating of “Buy” and an average price target of $34.87.
The stock has a 50-day moving average of $29.24 and a 200-day moving average of $29.91. The company has a market cap of $1.873 billion and a price-to-earnings ratio of 23.77.
Delek US Holdings, Inc (NYSE:DK) is an integrated energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing.
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