Q2 2019 EPS Estimates for Sunoco LP Lowered by Jefferies Financial Group (SUN)

Sunoco LP (NYSE:SUN) – Research analysts at Jefferies Financial Group decreased their Q2 2019 EPS estimates for shares of Sunoco in a research note issued on Monday, April 15th. Jefferies Financial Group analyst C. Sighinolfi now expects that the oil and gas company will post earnings of $0.57 per share for the quarter, down from their prior estimate of $0.61. Jefferies Financial Group currently has a “Hold” rating and a $29.00 price target on the stock. Jefferies Financial Group also issued estimates for Sunoco’s Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.93 EPS, FY2020 earnings at $1.32 EPS, FY2021 earnings at $1.12 EPS, FY2022 earnings at $0.92 EPS and FY2023 earnings at $1.27 EPS.

Sunoco (NYSE:SUN) last issued its quarterly earnings results on Wednesday, February 20th. The oil and gas company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.13). Sunoco had a negative net margin of 1.22% and a positive return on equity of 33.77%. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company posted $2.01 earnings per share. The business’s revenue for the quarter was up 31.0% on a year-over-year basis.

Several other research analysts have also recently commented on the company. Barclays cut Sunoco from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $34.00 to $32.00 in a research report on Tuesday. TheStreet cut Sunoco from a “b” rating to a “c+” rating in a research report on Monday, March 25th. ValuEngine raised Sunoco from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Robert W. Baird cut Sunoco from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $34.00 to $30.00 in a research report on Thursday, March 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Sunoco from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Sunoco currently has a consensus rating of “Hold” and an average price target of $30.33.

Shares of NYSE SUN opened at $30.36 on Wednesday. Sunoco has a 52 week low of $23.80 and a 52 week high of $31.88. The company has a quick ratio of 0.61, a current ratio of 1.05 and a debt-to-equity ratio of 3.80. The company has a market cap of $3.06 billion, a P/E ratio of 11.77 and a beta of 0.87.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SUN. Credit Suisse AG lifted its position in shares of Sunoco by 80.7% in the third quarter. Credit Suisse AG now owns 35,726 shares of the oil and gas company’s stock valued at $1,055,000 after buying an additional 15,957 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sunoco by 28.0% in the third quarter. JPMorgan Chase & Co. now owns 1,713,603 shares of the oil and gas company’s stock valued at $50,637,000 after buying an additional 375,235 shares during the last quarter. LPL Financial LLC lifted its position in shares of Sunoco by 12.7% in the third quarter. LPL Financial LLC now owns 24,741 shares of the oil and gas company’s stock valued at $731,000 after buying an additional 2,783 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Sunoco by 100.7% in the third quarter. Putnam Investments LLC now owns 121,831 shares of the oil and gas company’s stock valued at $3,600,000 after buying an additional 61,131 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Sunoco in the third quarter valued at approximately $1,978,000. 29.63% of the stock is owned by institutional investors.

Sunoco Company Profile

Sunoco LP, together with its subsidiaries, engages in the distribution and retailing of motor fuels in the United States. The company operates through two segments, Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel from independent refiners and major oil companies and supplies it to independently operated dealer stations, distributors and other consumer of motor fuel, and partnership operated stations, as well as to commission agent locations.

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Earnings History and Estimates for Sunoco (NYSE:SUN)

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