Sunoco (NYSE:SUN) Issues Quarterly Earnings Results, Misses Expectations By $1.23 EPS

Sunoco (NYSE:SUN) announced its earnings results on Tuesday. The oil and gas company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($1.23), Zacks reports. Sunoco had a net margin of 3.85% and a return on equity of 22.52%. During the same period in the prior year, the company posted $2.26 EPS. The business’s revenue was down 5.8% compared to the same quarter last year.

Sunoco Trading Down 2.7 %

Shares of Sunoco stock traded down $1.46 on Tuesday, reaching $53.11. 293,086 shares of the company were exchanged, compared to its average volume of 491,347. Sunoco has a fifty-two week low of $48.00 and a fifty-two week high of $59.88. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.05 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 0.66 and a debt-to-equity ratio of 1.84. The stock has a fifty day moving average price of $56.90 and a 200-day moving average price of $55.04.

Sunoco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.8976 per share. The ex-dividend date is Friday, May 9th. This is a positive change from Sunoco’s previous quarterly dividend of $0.89. This represents a $3.59 annualized dividend and a dividend yield of 6.76%. Sunoco’s dividend payout ratio (DPR) is currently 54.39%.

Wall Street Analyst Weigh In

SUN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Sunoco from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Barclays lowered their price objective on shares of Sunoco from $62.00 to $61.00 and set an “overweight” rating on the stock in a research note on Friday, March 28th. Finally, Mizuho lifted their price target on Sunoco from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sunoco presently has an average rating of “Moderate Buy” and an average target price of $64.33.

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.