Analysts forecast that Sunoco LP (NYSE:SUN) will post $3.46 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sunoco’s earnings, with the highest sales estimate coming in at $4.39 billion and the lowest estimate coming in at $2.54 billion. Sunoco posted sales of $4.14 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 16.4%. The company is scheduled to announce its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Sunoco will report full-year sales of $3.46 billion for the current financial year, with estimates ranging from $12.88 billion to $16.05 billion. For the next year, analysts expect that the firm will post sales of $13.17 billion per share, with estimates ranging from $11.63 billion to $14.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Sunoco.
SUN has been the subject of several recent research reports. Royal Bank Of Canada reissued a “buy” rating and set a $32.00 price objective on shares of Sunoco in a report on Tuesday, June 20th. Vetr upgraded Sunoco from a “hold” rating to a “buy” rating and set a $32.56 target price for the company in a research report on Thursday, June 1st. Deutsche Bank AG upgraded Sunoco from a “hold” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $36.00 in a research report on Thursday, July 13th. BidaskClub upgraded Sunoco from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $30.00 target price (up from $29.00) on shares of Sunoco in a research report on Monday, September 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.25.
Institutional investors and hedge funds have recently modified their holdings of the stock. BB&T Investment Services Inc. acquired a new position in shares of Sunoco in the 2nd quarter valued at approximately $100,000. Ffcm LLC acquired a new position in shares of Sunoco in the 2nd quarter valued at approximately $112,000. The Manufacturers Life Insurance Company grew its position in shares of Sunoco by 24.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,262 shares of the oil and gas company’s stock valued at $191,000 after purchasing an additional 1,213 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Sunoco by 6.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 7,123 shares of the oil and gas company’s stock valued at $172,000 after purchasing an additional 420 shares during the period. Finally, Suntrust Banks Inc. acquired a new position in shares of Sunoco in the 2nd quarter valued at approximately $235,000. Institutional investors and hedge funds own 30.86% of the company’s stock.
Shares of Sunoco (NYSE SUN) traded down 0.38% on Friday, hitting $31.52. 167,102 shares of the company’s stock traded hands. Sunoco has a 1-year low of $21.01 and a 1-year high of $32.67. The firm’s 50-day moving average price is $31.32 and its 200 day moving average price is $29.39. The company’s market cap is $3.14 billion.
Sunoco Company Profile
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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