$393.04 Million in Sales Expected for SemGroup Corp (SEMG) This Quarter
Equities research analysts expect SemGroup Corp (NASDAQ:SEMG) to post sales of $393.04 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for SemGroup Corp’s earnings, with the lowest sales estimate coming in at $326 million and the highest estimate coming in at $460.07 million. SemGroup Corp reported sales of $287.38 million in the same quarter last year, which indicates a positive year over year growth rate of 36.8%. The business is scheduled to report its next earnings report on Thursday, August 3rd.
According to Zacks, analysts expect that SemGroup Corp will report full-year sales of $393.04 million for the current financial year, with estimates ranging from $1.41 billion to $1.89 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $1.79 billion per share, with estimates ranging from $1.56 billion to $1.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover SemGroup Corp.
SemGroup Corp (NASDAQ:SEMG) last released its earnings results on Thursday, February 23rd. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The company had revenue of $402.20 million during the quarter, compared to the consensus estimate of $332.33 million. During the same quarter in the previous year, the business posted $0.02 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis.
Several analysts recently commented on SEMG shares. Zacks Investment Research downgraded shares of SemGroup Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 22nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $42.00 target price on shares of SemGroup Corp in a report on Friday, April 7th. Finally, Barclays PLC started coverage on shares of SemGroup Corp in a report on Tuesday, February 21st. They set an “equal weight” rating and a $43.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. SemGroup Corp currently has a consensus rating of “Hold” and a consensus target price of $39.00.
In other SemGroup Corp news, insider Carlin G. Conner acquired 7,500 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $33.55 per share, with a total value of $251,625.00. Following the acquisition, the insider now directly owns 165,292 shares of the company’s stock, valued at approximately $5,545,546.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Mcadam acquired 5,000 shares of the business’s stock in a transaction on Thursday, March 23rd. The stock was acquired at an average cost of $33.84 per share, with a total value of $169,200.00. Following the acquisition, the director now directly owns 669 shares in the company, valued at $22,638.96. The disclosure for this purchase can be found here.
A number of hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. increased its stake in SemGroup Corp by 246,265.4% in the third quarter. Advisors Asset Management Inc. now owns 199,556 shares of the company’s stock worth $7,056,000 after buying an additional 199,475 shares in the last quarter. Jennison Associates LLC increased its stake in SemGroup Corp by 6.2% in the third quarter. Jennison Associates LLC now owns 3,187,712 shares of the company’s stock worth $112,717,000 after buying an additional 185,902 shares in the last quarter. BlackRock Fund Advisors increased its stake in SemGroup Corp by 26.9% in the third quarter. BlackRock Fund Advisors now owns 1,469,116 shares of the company’s stock worth $51,948,000 after buying an additional 311,433 shares in the last quarter. Teachers Advisors LLC increased its stake in SemGroup Corp by 20.4% in the third quarter. Teachers Advisors LLC now owns 85,266 shares of the company’s stock worth $3,015,000 after buying an additional 14,424 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in SemGroup Corp by 23.2% in the third quarter. TIAA CREF Investment Management LLC now owns 211,098 shares of the company’s stock worth $7,464,000 after buying an additional 39,743 shares in the last quarter.
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SemGroup Corp (NASDAQ:SEMG) traded up 3.12% during midday trading on Friday, hitting $33.10. 544,406 shares of the company traded hands. SemGroup Corp has a 12-month low of $27.35 and a 12-month high of $43.20. The company has a market capitalization of $2.19 billion and a price-to-earnings ratio of 341.24. The stock’s 50-day moving average price is $33.65 and its 200 day moving average price is $36.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Monday, May 15th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date is Thursday, May 11th.
About SemGroup Corp
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