Zacks: Analysts Anticipate Tesoro Logistics LP (TLLP) Will Announce Quarterly Sales of $444.65 Million
Brokerages expect Tesoro Logistics LP (NASDAQ:TLLP) to report $444.65 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Tesoro Logistics’ earnings. The lowest sales estimate is $441.29 million and the highest is $448.00 million. Tesoro Logistics reported sales of $293.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 51.8%. The business is expected to announce its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Tesoro Logistics will report full year sales of $444.65 million for the current fiscal year, with estimates ranging from $1.85 billion to $1.87 billion. For the next year, analysts expect that the firm will report sales of $2.21 billion per share, with estimates ranging from $2.13 billion to $2.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Tesoro Logistics.
Tesoro Logistics (NASDAQ:TLLP) last announced its earnings results on Monday, May 8th. The oil and gas company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.63 by $0.12. Tesoro Logistics had a net margin of 21.90% and a return on equity of 12.69%. The business had revenue of $420 million for the quarter, compared to the consensus estimate of $348.74 million. During the same quarter in the previous year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis.
Several analysts have weighed in on TLLP shares. Zacks Investment Research cut Tesoro Logistics from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. SunTrust Banks, Inc. initiated coverage on Tesoro Logistics in a research report on Monday, March 20th. They issued a “buy” rating and a $62.00 price target on the stock. Scotiabank reissued a “buy” rating and issued a $63.00 price target on shares of Tesoro Logistics in a research report on Thursday, March 23rd. Jefferies Group LLC dropped their price target on Tesoro Logistics from $53.00 to $52.00 and set a “hold” rating on the stock in a research report on Wednesday, April 19th. Finally, BidaskClub cut Tesoro Logistics from a “buy” rating to a “hold” rating in a research report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Tesoro Logistics currently has a consensus rating of “Buy” and a consensus target price of $59.13.
Several large investors have recently bought and sold shares of TLLP. Country Club Trust Company n.a. raised its stake in Tesoro Logistics by 1.4% in the first quarter. Country Club Trust Company n.a. now owns 10,199 shares of the oil and gas company’s stock valued at $556,000 after buying an additional 142 shares during the period. Ameriprise Financial Inc. raised its stake in Tesoro Logistics by 2.2% in the first quarter. Ameriprise Financial Inc. now owns 12,646 shares of the oil and gas company’s stock valued at $689,000 after buying an additional 276 shares during the period. United Capital Financial Advisers LLC raised its stake in Tesoro Logistics by 7.0% in the fourth quarter. United Capital Financial Advisers LLC now owns 5,350 shares of the oil and gas company’s stock valued at $272,000 after buying an additional 350 shares during the period. FTB Advisors Inc. raised its stake in Tesoro Logistics by 78.3% in the first quarter. FTB Advisors Inc. now owns 1,849 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 812 shares during the period. Finally, Brookfield Asset Management Inc. raised its stake in Tesoro Logistics by 2.1% in the first quarter. Brookfield Asset Management Inc. now owns 54,100 shares of the oil and gas company’s stock valued at $2,947,000 after buying an additional 1,100 shares during the period.
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Shares of Tesoro Logistics (NASDAQ TLLP) traded up 1.75% during midday trading on Friday, hitting $52.40. The company had a trading volume of 243,668 shares. Tesoro Logistics has a 52 week low of $43.00 and a 52 week high of $60.14. The company has a market capitalization of $5.66 billion and a P/E ratio of 29.87. The firm’s 50 day moving average is $51.21 and its 200 day moving average is $53.53.
Tesoro Logistics Company Profile
Tesoro Logistics LP is a full-service logistics company operating in the western and mid-continent regions of the United States. The Company operates through three segments. Its Gathering segment consists of crude oil, natural gas and produced water gathering systems in the Bakken Region and Rockies Region.
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