Analysts forecast that Sunoco LP (NYSE:SUN) will announce sales of $3.46 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sunoco’s earnings, with the lowest sales estimate coming in at $2.54 billion and the highest estimate coming in at $4.39 billion. Sunoco reported sales of $4.14 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 16.4%. The business is expected to announce its next quarterly earnings report on Wednesday, November 8th.

According to Zacks, analysts expect that Sunoco will report full year sales of $3.46 billion for the current fiscal year, with estimates ranging from $12.88 billion to $16.05 billion. For the next year, analysts anticipate that the firm will post sales of $13.17 billion per share, with estimates ranging from $11.63 billion to $14.67 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Sunoco.

A number of equities research analysts have recently weighed in on SUN shares. Deutsche Bank AG upgraded shares of Sunoco from a “hold” rating to a “buy” rating and lifted their price target for the company from $31.00 to $36.00 in a research report on Thursday, July 13th. UBS AG reiterated a “neutral” rating and issued a $30.00 price target (up from $28.00) on shares of Sunoco in a research report on Monday, August 14th. BidaskClub downgraded shares of Sunoco from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $35.00 price target (up from $32.00) on shares of Sunoco in a research report on Wednesday, September 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $30.00 price target (up from $29.00) on shares of Sunoco in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $31.25.

COPYRIGHT VIOLATION NOTICE: “Brokerages Expect Sunoco LP (SUN) Will Post Quarterly Sales of $3.46 Billion” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2017/09/15/brokerages-expect-sunoco-lp-sun-will-post-quarterly-sales-of-3-46-billion.html.

Several large investors have recently made changes to their positions in the company. BB&T Investment Services Inc. acquired a new position in shares of Sunoco during the second quarter worth $100,000. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Sunoco by 2.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 111,323 shares of the oil and gas company’s stock worth $3,408,000 after buying an additional 3,125 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sunoco by 24.0% during the second quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock worth $191,000 after buying an additional 1,213 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Sunoco by 1.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,340,350 shares of the oil and gas company’s stock worth $41,028,000 after buying an additional 17,894 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Sunoco during the second quarter worth $509,000. Institutional investors own 30.88% of the company’s stock.

Sunoco (NYSE:SUN) opened at 31.58 on Friday. The stock has a 50 day moving average price of $31.32 and a 200-day moving average price of $29.36. Sunoco has a one year low of $21.01 and a one year high of $32.67. The firm’s market capitalization is $3.14 billion.

Sunoco Company Profile

Sunoco LP is engaged in the retail sale of motor fuels and merchandise through its Company-operated convenience stores and retail fuel sites, as well as the wholesale distribution of motor fuels to convenience stores, independent dealers, commercial customers and distributors. The Company operates through two segments: wholesale and retail.

Get a free copy of the Zacks research report on Sunoco (SUN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Sunoco (NYSE:SUN)

Receive News & Ratings for Sunoco LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sunoco LP and related companies with MarketBeat.com's FREE daily email newsletter.