Sunoco LP (SUN) Expected to Post Quarterly Sales of $3.46 Billion
Equities analysts predict that Sunoco LP (NYSE:SUN) will report $3.46 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sunoco’s earnings. The highest sales estimate is $4.39 billion and the lowest is $2.54 billion. Sunoco reported sales of $4.14 billion during the same quarter last year, which would suggest a negative year over year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings report on Wednesday, November 8th.
On average, 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 fiscal 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 Investment Research’s sales calculations are an average based on a survey of analysts that follow Sunoco.
SUN has been the topic of a number of recent analyst reports. Deutsche Bank AG raised Sunoco from a “hold” rating to a “buy” rating and upped their target price for the company from $31.00 to $36.00 in a research report on Thursday, July 13th. UBS AG reissued a “neutral” rating and set a $30.00 price target (up previously from $28.00) on shares of Sunoco in a research report on Monday, August 14th. BidaskClub lowered shares of Sunoco from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $35.00 price target (up from $32.00) on shares of Sunoco in a report on Wednesday, September 6th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $30.00 price objective (up from $29.00) on shares of Sunoco in a research note on Monday, September 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.25.
Sunoco (NYSE:SUN) traded up 0.35% during mid-day trading on Wednesday, reaching $31.98. 96,041 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $31.20 and its 200-day moving average price is $30.03. Sunoco has a 52 week low of $21.01 and a 52 week high of $32.67. The company’s market capitalization is $3.18 billion.
Large investors have recently modified their holdings of the stock. BB&T Investment Services Inc. acquired a new position in Sunoco during the 2nd quarter valued at about $100,000. Ffcm LLC bought a new position in Sunoco in the 2nd quarter worth about $112,000. The Manufacturers Life Insurance Company grew its position in Sunoco by 24.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 1,213 shares during the last quarter. Suntrust Banks Inc. bought a new position in Sunoco in the 2nd quarter worth about $235,000. Finally, Hudson Valley Investment Advisors Inc. ADV bought a new position in Sunoco in the 2nd quarter worth about $245,000. Hedge funds and other institutional investors own 30.86% of the company’s stock.
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.
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