$452.42 Million in Sales Expected for Andeavor Logistics LP (ANDX) This Quarter
Brokerages forecast that Andeavor Logistics LP (NASDAQ:ANDX) will report $452.42 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Andeavor Logistics’ earnings. The lowest sales estimate is $430.00 million and the highest is $486.00 million. Andeavor Logistics posted sales of $308.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 46.9%. The business is expected to issue its next earnings results after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that Andeavor Logistics will report full year sales of $452.42 million for the current fiscal year, with estimates ranging from $1.63 billion to $1.85 billion. For the next financial year, analysts anticipate that the company will report sales of $1.98 billion per share, with estimates ranging from $1.76 billion to $2.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Andeavor Logistics.
Andeavor Logistics (NASDAQ:ANDX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Andeavor Logistics had a return on equity of 15.11% and a net margin of 26.63%. The company had revenue of $413.00 million for the quarter, compared to the consensus estimate of $441.69 million.
Several equities research analysts have recently issued reports on ANDX shares. Barclays PLC reaffirmed an “overweight” rating and set a $62.00 price objective (down from $65.00) on shares of Andeavor Logistics in a research report on Thursday, August 10th. BidaskClub upgraded shares of Andeavor Logistics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Credit Suisse Group lifted their price objective on shares of Andeavor Logistics from $59.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Andeavor Logistics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, Scotiabank reaffirmed a “buy” rating and issued a $59.00 target price on shares of Andeavor Logistics in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Andeavor Logistics has a consensus rating of “Hold” and a consensus target price of $59.17.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be issued a dividend of $0.9852 per share. This represents a $3.94 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Thursday, November 2nd.
In related news, insider Steven Sterin purchased 3,500 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average cost of $47.40 per share, with a total value of $165,900.00. Following the purchase, the insider now directly owns 4,714 shares in the company, valued at approximately $223,443.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have recently added to or reduced their stakes in ANDX. Penserra Capital Management LLC acquired a new stake in shares of Andeavor Logistics in the 3rd quarter valued at approximately $131,000. First Manhattan Co. bought a new stake in Andeavor Logistics in the 3rd quarter valued at $150,000. Cedar Wealth Management LLC bought a new stake in Andeavor Logistics in the 3rd quarter valued at $169,000. Saratoga Research & Investment Management bought a new stake in Andeavor Logistics in the 3rd quarter valued at $169,000. Finally, Linscomb & Williams Inc. bought a new stake in Andeavor Logistics in the 3rd quarter valued at $200,000.
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Andeavor Logistics Company Profile
Andeavor Logistics LP, formerly 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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