Tesoro Corp. (TSO) to Post Q3 2016 Earnings of $1.31 Per Share, Jefferies Group Forecasts
Tesoro Corp. (NYSE:TSO) – Equities researchers at Jefferies Group dropped their Q3 2016 earnings per share estimates for Tesoro Corp. in a report released on Thursday. Jefferies Group analyst C. Goldman now forecasts that the brokerage will post earnings per share of $1.31 for the quarter, down from their prior estimate of $2.02. Jefferies Group has a “Buy” rating and a $98.00 price target on the stock. Jefferies Group also issued estimates for Tesoro Corp.’s FY2016 earnings at $5.08 EPS.
Other equities analysts have also recently issued research reports about the stock. Mizuho increased their price target on shares of Tesoro Corp. from $67.00 to $94.00 and gave the stock a “buy” rating in a research report on Tuesday, July 5th. Barclays PLC raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $100.00 in a research report on Thursday, June 30th. Goldman Sachs Group Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $100.00 in a research report on Wednesday, June 29th. Citigroup Inc. raised shares of Tesoro Corp. from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $92.50 to $92.00 in a research report on Tuesday, July 19th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $109.00 price target (up previously from $95.00) on shares of Tesoro Corp. in a research report on Monday, September 26th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Tesoro Corp. has a consensus rating of “Buy” and an average target price of $101.44.
Shares of Tesoro Corp. (NYSE:TSO) opened at 81.66 on Monday. Tesoro Corp. has a 52-week low of $67.80 and a 52-week high of $119.67. The company’s 50-day moving average is $79.89 and its 200 day moving average is $78.58. The firm has a market capitalization of $9.76 billion, a P/E ratio of 7.64 and a beta of 2.03.
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Tesoro Corp. (NYSE:TSO) last posted its earnings results on Wednesday, August 3rd. The company reported $3.47 EPS for the quarter, topping the consensus estimate of $1.77 by $1.70. Tesoro Corp. had a net margin of 5.12% and a return on equity of 20.15%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $5.87 billion. During the same period last year, the company earned $4.59 EPS. The firm’s revenue was down 23.7% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Tesoro Corp. by 1.4% in the second quarter. Signaturefd LLC now owns 1,351 shares of the company’s stock worth $101,000 after buying an additional 18 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Tesoro Corp. during the first quarter worth $103,000. Zions Bancorporation boosted its stake in shares of Tesoro Corp. by 2,912.2% in the first quarter. Zions Bancorporation now owns 1,235 shares of the company’s stock worth $106,000 after buying an additional 1,194 shares during the last quarter. Advisor Group Inc. acquired a new stake in shares of Tesoro Corp. during the second quarter worth $118,000. Finally, Daiwa SB Investments Ltd. boosted its stake in shares of Tesoro Corp. by 8.0% in the second quarter. Daiwa SB Investments Ltd. now owns 1,620 shares of the company’s stock worth $122,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
In related news, CFO Steven Sterin acquired 1,100 shares of the stock in a transaction that occurred on Friday, August 26th. The shares were acquired at an average price of $73.93 per share, for a total transaction of $81,323.00. Following the completion of the purchase, the chief financial officer now directly owns 8,152 shares of the company’s stock, valued at $602,677.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
Tesoro Corp. Company Profile
Tesoro Corporation (Tesoro) is an independent petroleum refining and marketing company. The Company operates through three business segments: Refining operating segment (Refining), which owns and operates refineries, and refines crude oil and other feedstocks into transportation fuels; TLLP, a publicly traded limited partnership, which includes certain crude oil and natural gas gathering assets, natural gas processing and crude oil and refined products terminaling, and transportation and storage assets, and marketing segment (Marketing), which sells transportation fuels.
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