Zacks: Analysts Expect Sunoco LP (SUN) Will Announce Quarterly Sales of $3.36 Billion

Analysts predict that Sunoco LP (NYSE:SUN) will report $3.36 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Sunoco’s earnings, with the highest sales estimate coming in at $4.42 billion and the lowest estimate coming in at $2.73 billion. Sunoco posted sales of $4.31 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 22%. The company is scheduled to issue its next earnings results on Wednesday, February 28th.

According to Zacks, analysts expect that Sunoco will report full-year sales of $3.36 billion for the current fiscal year, with estimates ranging from $11.75 billion to $13.90 billion. For the next financial year, analysts expect that the company will post sales of $13.06 billion per share, with estimates ranging from $11.26 billion to $14.36 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Sunoco.

Sunoco (NYSE:SUN) last posted its earnings results on Tuesday, November 7th. The oil and gas company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.67. Sunoco had a negative net margin of 4.89% and a positive return on equity of 12.43%.

SUN has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Royal Bank of Canada restated a “buy” rating and issued a $35.00 price objective on shares of Sunoco in a report on Tuesday, October 10th. Jefferies Group reiterated a “neutral” rating on shares of Sunoco in a report on Wednesday, December 20th. Janney Montgomery Scott assumed coverage on shares of Sunoco in a report on Friday. They set a “neutral” rating and a $33.00 price target for the company. Finally, B. Riley set a $32.00 price target on shares of Sunoco and gave the company a “neutral” rating in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.69.

Shares of Sunoco (NYSE SUN) opened at $31.77 on Friday. Sunoco has a 1 year low of $23.09 and a 1 year high of $32.67. The stock has a market cap of $3,681.89, a P/E ratio of 18.80 and a beta of 0.56. The company has a debt-to-equity ratio of 2.28, a quick ratio of 3.75 and a current ratio of 4.02.

In other Sunoco news, insider Arnold Dodderer sold 2,512 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $28.98, for a total transaction of $72,797.76. Following the transaction, the insider now directly owns 23,923 shares of the company’s stock, valued at approximately $693,288.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of institutional investors have recently modified their holdings of SUN. Harvest Fund Advisors LLC increased its position in Sunoco by 26.6% during the 3rd quarter. Harvest Fund Advisors LLC now owns 1,339,519 shares of the oil and gas company’s stock valued at $41,659,000 after purchasing an additional 281,414 shares during the period. JPMorgan Chase & Co. increased its position in Sunoco by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,450,389 shares of the oil and gas company’s stock valued at $44,440,000 after purchasing an additional 173,588 shares during the period. Allianz Asset Management GmbH purchased a new position in Sunoco during the 3rd quarter valued at $1,444,000. Bank of Montreal Can increased its position in Sunoco by 7.1% during the 4th quarter. Bank of Montreal Can now owns 425,097 shares of the oil and gas company’s stock valued at $12,073,000 after purchasing an additional 28,354 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Sunoco by 25.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,559 shares of the oil and gas company’s stock valued at $4,091,000 after purchasing an additional 26,922 shares during the period. 26.32% of the stock is currently owned by institutional investors and hedge funds.

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About Sunoco

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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Earnings History and Estimates for Sunoco (NYSE:SUN)

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