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

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

Sunoco Stock Performance

Shares of NYSE:SUN traded down $0.25 during midday trading on Thursday, reaching $54.11. 220,792 shares of the company traded hands, compared to its average volume of 521,171. The company has a quick ratio of 0.72, a current ratio of 1.26 and a debt-to-equity ratio of 1.69. Sunoco has a 12 month low of $49.45 and a 12 month high of $64.89. The firm has a market capitalization of $8.25 billion, a price-to-earnings ratio of 7.19 and a beta of 1.31. The firm’s fifty day moving average price is $52.87 and its two-hundred day moving average price is $53.83.

Sunoco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.8756 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.50 annualized dividend and a dividend yield of 6.47%. Sunoco’s payout ratio is presently 46.30%.

Analysts Set New Price Targets

SUN has been the topic of a number of recent analyst reports. StockNews.com lowered Sunoco from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Barclays dropped their price target on Sunoco from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Sunoco from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price target on Sunoco from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.25.

Sunoco Company Profile

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.