$3.48 Billion in Sales Expected for HollyFrontier Corporation (NYSE:HFC) This Quarter
Wall Street brokerages predict that HollyFrontier Corporation (NYSE:HFC) will announce $3.48 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for HollyFrontier Corporation’s earnings. The highest sales estimate is $3.81 billion and the lowest is $3.15 billion. HollyFrontier Corporation posted sales of $2.85 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 22.1%. The firm is scheduled to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that HollyFrontier Corporation will report full-year sales of $3.48 billion for the current fiscal year, with estimates ranging from $11.77 billion to $14.02 billion. For the next year, analysts anticipate that the firm will report sales of $12.34 billion per share, with estimates ranging from $11.59 billion to $13.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow HollyFrontier Corporation.
HollyFrontier Corporation (NYSE:HFC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.20. HollyFrontier Corporation had a return on equity of 2.65% and a net margin of 1.13%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year.
A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of HollyFrontier Corporation from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays PLC upped their price target on shares of HollyFrontier Corporation from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank raised shares of HollyFrontier Corporation from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Zacks Investment Research raised shares of HollyFrontier Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, BidaskClub raised shares of HollyFrontier Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.32.
A number of institutional investors have recently bought and sold shares of HFC. AT Bancorp acquired a new position in HollyFrontier Corporation during the second quarter valued at approximately $104,000. Toronto Dominion Bank increased its position in HollyFrontier Corporation by 11.3% in the first quarter. Toronto Dominion Bank now owns 3,759 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 382 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in HollyFrontier Corporation by 5.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,472 shares of the oil and gas company’s stock worth $118,000 after buying an additional 236 shares during the period. IFP Advisors Inc boosted its stake in HollyFrontier Corporation by 304.6% in the second quarter. IFP Advisors Inc now owns 4,880 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,674 shares during the period. Finally, First Mercantile Trust Co. boosted its stake in HollyFrontier Corporation by 5,539.1% in the first quarter. First Mercantile Trust Co. now owns 6,485 shares of the oil and gas company’s stock worth $184,000 after buying an additional 6,370 shares during the period. 84.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HollyFrontier Corporation (HFC) opened at 30.53 on Friday. The stock has a market cap of $5.36 billion, a P/E ratio of 38.69 and a beta of 1.24. The firm’s 50-day moving average price is $27.28 and its 200-day moving average price is $27.63. HollyFrontier Corporation has a 52-week low of $22.63 and a 52-week high of $34.78.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.32%. The ex-dividend date is Monday, August 21st. HollyFrontier Corporation’s payout ratio is 167.09%.
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About HollyFrontier Corporation
HollyFrontier Corporation is an independent petroleum refiner. The Company produces various light products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, and specialty and modified asphalt. It segments include Refining and Holly Energy Partners, L.P. (HEP). The Refining segment includes the operations of the Company’s El Dorado, Kansas (the El Dorado Refinery); refinery facilities located in Tulsa, Oklahoma (collectively, the Tulsa Refineries); a refinery in Artesia, New Mexico that is operated in conjunction with crude oil distillation and vacuum distillation and other facilities situated 65 miles away in Lovington, New Mexico (collectively, the Navajo Refinery); refinery located in Cheyenne, Wyoming (the Cheyenne Refinery); a refinery in Woods Cross, Utah (the Woods Cross Refinery), and HollyFrontier Asphalt Company (HFC Asphalt).
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