Sunoco (NYSE:SUN) Announces Earnings Results, Misses Estimates By $1.79 EPS

Sunoco (NYSE:SUN) released its earnings results on Wednesday. The oil and gas company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($1.79), Briefing.com reports. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Sunoco had a return on equity of 41.76% and a net margin of 3.80%. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.95 EPS.

Sunoco Price Performance

Shares of Sunoco stock traded down $0.33 during trading hours on Thursday, reaching $54.03. 244,006 shares of the company’s stock were exchanged, compared to its average volume of 521,278. Sunoco has a 1 year low of $49.45 and a 1 year high of $64.89. The company has a market capitalization of $8.23 billion, a P/E ratio of 7.16 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. The business has a fifty day moving average of $52.87 and a two-hundred day moving average of $53.83.

Sunoco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.8756 per share. This represents a $3.50 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date is Friday, November 8th. Sunoco’s dividend payout ratio (DPR) is presently 46.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. StockNews.com downgraded Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Royal Bank of Canada increased their target price on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Barclays cut their target price on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.25.

About Sunoco

Sunoco LP, together with its subsidiaries, distributes and retails motor fuels in the United States. It operates through two segments: Fuel Distribution and Marketing, and All Other. The Fuel Distribution and Marketing segment purchases motor fuel, as well as other petroleum products, such as propane and lubricating oil from independent refiners and oil companies and supplies it to company-operated retail stores, independently operated commission agents, and retail stores, as well as other commercial customers, including unbranded retail stores, other fuel distributors, school districts, municipalities, and other industrial customers.