Zacks: Brokerages Anticipate Aegean Marine Petroleum Network Inc. (ANW) Will Post Quarterly Sales of $1.32 Billion

Wall Street analysts predict that Aegean Marine Petroleum Network Inc. (NYSE:ANW) will announce $1.32 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Aegean Marine Petroleum Network’s earnings. The lowest sales estimate is $1.07 billion and the highest is $1.51 billion. Aegean Marine Petroleum Network posted sales of $1.14 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.8%. The business is expected to report its next earnings report on Wednesday, November 15th.

On average, analysts expect that Aegean Marine Petroleum Network will report full-year sales of $1.32 billion for the current fiscal year, with estimates ranging from $5.10 billion to $6.03 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $5.55 billion per share, with estimates ranging from $4.20 billion to $7.31 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Aegean Marine Petroleum Network.

Aegean Marine Petroleum Network (NYSE:ANW) last announced its earnings results on Thursday, August 10th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.29 billion. Aegean Marine Petroleum Network had a net margin of 0.56% and a return on equity of 7.97%. The company’s revenue for the quarter was up 45.9% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share.

Several equities research analysts recently issued reports on ANW shares. ValuEngine raised Aegean Marine Petroleum Network from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Clarkson Capital raised Aegean Marine Petroleum Network from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research report on Friday, August 11th. Zacks Investment Research lowered Aegean Marine Petroleum Network from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Stifel Nicolaus reissued a “buy” rating and set a $9.00 price target on shares of Aegean Marine Petroleum Network in a research report on Friday, July 21st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $8.00 price target on shares of Aegean Marine Petroleum Network in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $7.67.

Aegean Marine Petroleum Network (ANW) opened at 4.65 on Monday. The stock’s 50 day moving average is $4.75 and its 200-day moving average is $7.09. Aegean Marine Petroleum Network has a 12 month low of $4.00 and a 12 month high of $13.10. The stock has a market capitalization of $188.94 million, a price-to-earnings ratio of 6.74 and a beta of 2.25.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in Aegean Marine Petroleum Network in the second quarter worth $163,000. Schneider Capital Management Corp increased its position in Aegean Marine Petroleum Network by 4.1% in the second quarter. Schneider Capital Management Corp now owns 1,959,528 shares of the oil and gas company’s stock worth $11,463,000 after buying an additional 77,800 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Aegean Marine Petroleum Network by 24.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 644,233 shares of the oil and gas company’s stock worth $3,769,000 after buying an additional 127,852 shares during the period. State Street Corp increased its position in Aegean Marine Petroleum Network by 9.1% in the second quarter. State Street Corp now owns 39,837 shares of the oil and gas company’s stock worth $233,000 after buying an additional 3,324 shares during the period. Finally, Senvest Management LLC increased its position in Aegean Marine Petroleum Network by 19.5% in the second quarter. Senvest Management LLC now owns 5,284,894 shares of the oil and gas company’s stock worth $30,917,000 after buying an additional 862,860 shares during the period. 70.57% of the stock is currently owned by hedge funds and other institutional investors.

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About Aegean Marine Petroleum Network

Aegean Marine Petroleum Network Inc is an international marine fuel logistics company. The Company markets and physically supplies refined marine fuel and lubricants to vessels in port, at sea and on rivers. As a physical supplier, the Company procures marine fuel from refineries, oil producers and other sources, and resells and delivers these fuels from its bunkering vessels to a range of end users.

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