Q3 2016 Earnings Forecast for Valero Energy Co. Issued By Jefferies Group (VLO)
Valero Energy Co. (NYSE:VLO) – Equities researchers at Jefferies Group decreased their Q3 2016 EPS estimates for Valero Energy in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Goldman now expects that the firm will earn $0.90 per share for the quarter, down from their previous estimate of $0.96. Jefferies Group has a “Buy” rating and a $66.00 price target on the stock. Jefferies Group also issued estimates for Valero Energy’s FY2016 earnings at $3.49 EPS and FY2017 earnings at $5.43 EPS.
Other research analysts have also recently issued reports about the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Valero Energy in a research report on Saturday, July 9th. Howard Weil dropped their price objective on Valero Energy from $61.00 to $60.00 and set a “sector outperform” rating for the company in a research note on Wednesday, July 27th. Zacks Investment Research lowered Valero Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Barclays PLC reissued an “overweight” rating and set a $73.00 price objective on shares of Valero Energy in a research note on Thursday, July 28th. Finally, Scotiabank reissued a “sector outperform” rating and set a $60.00 price objective (down previously from $61.00) on shares of Valero Energy in a research note on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Valero Energy has an average rating of “Buy” and a consensus price target of $69.76.
Shares of Valero Energy (NYSE:VLO) traded down 0.07% during mid-day trading on Friday, reaching $53.81. 1,316,309 shares of the company’s stock were exchanged. Valero Energy has a one year low of $46.88 and a one year high of $73.88. The firm has a market capitalization of $24.82 billion, a P/E ratio of 8.65 and a beta of 1.87. The stock has a 50-day moving average of $54.95 and a 200 day moving average of $55.18.
Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.04. The business earned $19.58 billion during the quarter, compared to analyst estimates of $16.79 billion. Valero Energy had a net margin of 3.89% and a return on equity of 14.05%. Valero Energy’s quarterly revenue was down 22.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.66 EPS.
A number of large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in Valero Energy during the second quarter valued at approximately $176,332,000. Old Mutual Global Investors UK Ltd. boosted its position in shares of Valero Energy by 1,858.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 1,810,144 shares of the company’s stock valued at $92,317,000 after buying an additional 1,717,712 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Valero Energy by 43.1% in the second quarter. Janus Capital Management LLC now owns 3,693,374 shares of the company’s stock valued at $188,363,000 after buying an additional 1,111,518 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of Valero Energy during the second quarter valued at about $55,991,000. Finally, Kleinwort Benson Investors Dublin Ltd purchased a new position in shares of Valero Energy during the second quarter valued at about $53,631,000. Institutional investors own 78.49% of the company’s stock.
Valero Energy Company Profile
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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