$2.25 Billion in Sales Expected for Delek US Holdings, Inc. (DK) This Quarter
Wall Street brokerages forecast that Delek US Holdings, Inc. (NYSE:DK) will report $2.25 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Delek US Holdings’ earnings. The highest sales estimate is $2.49 billion and the lowest is $2.00 billion. Delek US Holdings reported sales of $1.08 billion in the same quarter last year, which would suggest a positive year over year growth rate of 108.3%. The firm is scheduled to issue its next earnings report on Monday, October 30th.
On average, analysts expect that Delek US Holdings will report full year sales of $2.25 billion for the current fiscal year, with estimates ranging from $6.58 billion to $7.98 billion. For the next financial year, analysts anticipate that the firm will post sales of $10.19 billion per share, with estimates ranging from $9.36 billion to $11.67 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Delek US Holdings.
Delek US Holdings (NYSE:DK) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.37. Delek US Holdings had a negative net margin of 3.15% and a negative return on equity of 4.60%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $944.29 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. Delek US Holdings’s revenue for the quarter was up 7.3% compared to the same quarter last year.
Several equities analysts have weighed in on DK shares. Zacks Investment Research cut shares of Delek US Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. BidaskClub cut shares of Delek US Holdings from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Barclays PLC reiterated an “equal weight” rating and set a $28.00 price objective on shares of Delek US Holdings in a research report on Wednesday, July 5th. Cowen and Company reiterated a “buy” rating and set a $30.00 price objective on shares of Delek US Holdings in a research report on Thursday, August 17th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Delek US Holdings from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $26.00 to $30.00 in a research report on Tuesday, May 16th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Delek US Holdings has a consensus rating of “Hold” and an average price target of $25.07.
In related news, Director Charles H. Leonard sold 1,700 shares of Delek US Holdings stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $25.48, for a total value of $43,316.00. Following the completion of the sale, the director now owns 20,787 shares of the company’s stock, valued at approximately $529,652.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Ezra Uzi Yemin sold 202,806 shares of Delek US Holdings stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $25.41, for a total transaction of $5,153,300.46. Following the completion of the sale, the chairman now directly owns 344,890 shares of the company’s stock, valued at approximately $8,763,654.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 210,343 shares of company stock valued at $5,341,191. 1.42% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. acquired a new stake in Delek US Holdings during the first quarter valued at about $129,000. Amalgamated Bank acquired a new stake in Delek US Holdings during the second quarter valued at about $207,000. Virginia Retirement Systems ET AL raised its stake in Delek US Holdings by 6.3% in the first quarter. Virginia Retirement Systems ET AL now owns 9,145 shares of the oil and gas company’s stock valued at $222,000 after buying an additional 545 shares during the last quarter. Clinton Group Inc. acquired a new stake in Delek US Holdings during the first quarter valued at about $230,000. Finally, Airain ltd acquired a new stake in Delek US Holdings during the second quarter valued at about $244,000. 97.01% of the stock is owned by institutional investors and hedge funds.
Shares of Delek US Holdings (DK) opened at 22.87 on Friday. The stock’s market cap is $1.42 billion. Delek US Holdings has a 52-week low of $14.76 and a 52-week high of $27.85. The firm has a 50-day moving average price of $24.60 and a 200-day moving average price of $24.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, August 23rd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, August 21st. Delek US Holdings’s payout ratio is presently -25.86%.
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Delek US Holdings Company Profile
Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.
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