Brokerages Expect Tesoro Corporation (ANDV) Will Post Quarterly Sales of $8.09 Billion
Equities analysts expect that Tesoro Corporation (NYSE:ANDV) will announce sales of $8.09 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Tesoro Corporation’s earnings. The lowest sales estimate is $6.86 billion and the highest is $10.54 billion. Tesoro Corporation reported sales of $6.29 billion in the same quarter last year, which indicates a positive year over year growth rate of 28.6%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that Tesoro Corporation will report full year sales of $8.09 billion for the current fiscal year, with estimates ranging from $27.28 billion to $38.85 billion. For the next financial year, analysts expect that the firm will post sales of $31.04 billion per share, with estimates ranging from $26.71 billion to $34.66 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Tesoro Corporation.
Tesoro Corporation (NYSE:ANDV) last released its earnings results on Monday, May 8th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.16. Tesoro Corporation had a net margin of 2.74% and a return on equity of 7.89%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.46 billion. During the same period last year, the business earned $1.19 earnings per share. The firm’s revenue was up 30.1% on a year-over-year basis.
Several research firms have recently weighed in on ANDV. BidaskClub downgraded Tesoro Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and set a $100.00 price target on shares of Tesoro Corporation in a research note on Thursday, July 20th. Citigroup Inc. increased their price target on Tesoro Corporation from $104.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded Tesoro Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Scotiabank set a $99.00 price target on Tesoro Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Tesoro Corporation presently has a consensus rating of “Buy” and an average target price of $109.00.
In other Tesoro Corporation news, CFO Steven Sterin purchased 1,150 shares of the stock in a transaction on Thursday, June 1st. The shares were purchased at an average price of $83.75 per share, with a total value of $96,312.50. Following the acquisition, the chief financial officer now directly owns 9,942 shares in the company, valued at approximately $832,642.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David Lilley purchased 500 shares of the stock in a transaction on Thursday, June 1st. The stock was acquired at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the acquisition, the director now owns 15,134 shares in the company, valued at $1,258,543.44. The disclosure for this purchase can be found here. Company insiders own 0.86% of the company’s stock.
Shares of Tesoro Corporation (NYSE ANDV) opened at 97.93 on Monday. The firm’s 50-day moving average price is $95.28 and its 200 day moving average price is $86.12. The firm has a market cap of $15.66 billion, a P/E ratio of 16.38 and a beta of 1.71. Tesoro Corporation has a one year low of $72.95 and a one year high of $101.52.
About Tesoro Corporation
Andeavor Corporation, formerly Tesoro Corporation, is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.
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