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

Sunoco (NYSE:SUN) announced its quarterly earnings results on Wednesday. The oil and gas company reported ($0.26) EPS 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 was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS.

Sunoco Stock Performance

Shares of NYSE:SUN traded down $0.33 during mid-day trading on Thursday, reaching $54.03. 244,006 shares of the company traded hands, compared to its average volume of 521,278. Sunoco has a 52 week low of $49.45 and a 52 week high of $64.89. The firm has a market cap of $8.23 billion, a PE ratio of 7.16 and a beta of 1.31. The company’s 50 day moving average price is $52.87 and its 200-day moving average price is $53.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.26 and a quick ratio of 0.72.

Sunoco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.8756 dividend. This represents a $3.50 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend is Friday, November 8th. Sunoco’s payout ratio is 46.30%.

Analyst Upgrades and Downgrades

SUN has been the topic of several research analyst reports. StockNews.com cut shares of Sunoco from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price target on shares of Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays reduced their price objective on shares of Sunoco from $61.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.