Sunoco LP (SUN) Expected to Post Quarterly Sales of $4.69 Billion
Equities research analysts predict that Sunoco LP (NYSE:SUN) will announce sales of $4.69 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Sunoco’s earnings, with estimates ranging from $4.48 billion to $5.24 billion. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 20th.
On average, analysts expect that Sunoco will report full-year sales of $17.80 billion for the current financial year, with estimates ranging from $17.57 billion to $18.35 billion. For the next year, analysts forecast that the business will report sales of $18.45 billion, with estimates ranging from $17.32 billion to $19.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sunoco.
Sunoco (NYSE:SUN) last issued its earnings results on Wednesday, November 7th. The oil and gas company reported $1.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.50. Sunoco had a net margin of 0.60% and a return on equity of 38.90%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter last year, the company posted $1.08 earnings per share. Sunoco’s revenue was up 55.4% on a year-over-year basis.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Sunoco by 6,579.2% during the first quarter. BlackRock Inc. now owns 677,603 shares of the oil and gas company’s stock valued at $17,285,000 after acquiring an additional 667,458 shares during the period. LPL Financial LLC increased its stake in shares of Sunoco by 21.8% during the first quarter. LPL Financial LLC now owns 21,616 shares of the oil and gas company’s stock valued at $551,000 after acquiring an additional 3,876 shares during the period. Royal Bank of Canada increased its stake in shares of Sunoco by 120.6% during the first quarter. Royal Bank of Canada now owns 80,889 shares of the oil and gas company’s stock valued at $2,063,000 after acquiring an additional 44,221 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Sunoco during the second quarter valued at approximately $1,000,000. Finally, Creative Planning increased its stake in shares of Sunoco by 17.7% during the second quarter. Creative Planning now owns 64,300 shares of the oil and gas company’s stock valued at $1,605,000 after acquiring an additional 9,660 shares during the period. Institutional investors own 28.44% of the company’s stock.
Shares of NYSE SUN opened at $28.08 on Friday. Sunoco has a 52-week low of $24.46 and a 52-week high of $33.11. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 12.26 and a beta of 0.84. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 2.94.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Tuesday, November 6th were paid a $0.8255 dividend. The ex-dividend date was Monday, November 5th. This represents a $3.30 annualized dividend and a dividend yield of 11.76%. Sunoco’s payout ratio is currently 144.10%.
Sunoco LP, together with its subsidiaries, engages in the wholesale distribution and retail sale of motor fuels primarily in the United States. The company operates through two segments, Wholesale and Retail. It serves convenience stores and commission agent locations, contracted independent convenience store operators, and other commercial customers.
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