$4.42 Billion in Sales Expected for HollyFrontier Corp (NYSE:HFC) This Quarter

Wall Street brokerages predict that HollyFrontier Corp (NYSE:HFC) will post sales of $4.42 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for HollyFrontier’s earnings, with the highest sales estimate coming in at $4.74 billion and the lowest estimate coming in at $4.20 billion. HollyFrontier posted sales of $4.47 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, August 1st.

On average, analysts expect that HollyFrontier will report full year sales of $16.33 billion for the current financial year, with estimates ranging from $14.24 billion to $17.49 billion. For the next fiscal year, analysts expect that the business will report sales of $16.81 billion, with estimates ranging from $13.57 billion to $22.94 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover HollyFrontier.

HollyFrontier (NYSE:HFC) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. HollyFrontier had a return on equity of 16.86% and a net margin of 6.19%. The business had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year.

A number of equities research analysts have issued reports on HFC shares. ValuEngine upgraded HollyFrontier from a “strong sell” rating to a “sell” rating in a research report on Monday, June 24th. Zacks Investment Research upgraded HollyFrontier from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Goldman Sachs Group downgraded HollyFrontier from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $53.00 to $45.00 in a research report on Tuesday, April 16th. Bank of America upgraded HollyFrontier from an “underperform” rating to a “neutral” rating and set a $48.70 price objective on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley set a $54.00 price objective on HollyFrontier and gave the company a “hold” rating in a research report on Friday, May 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. HollyFrontier presently has a consensus rating of “Hold” and an average target price of $65.15.

In other HollyFrontier news, Director Franklin Myers purchased 2,900 shares of HollyFrontier stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $42.78 per share, for a total transaction of $124,062.00. Following the completion of the acquisition, the director now owns 22,489 shares in the company, valued at approximately $962,079.42. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.49% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of HFC. Norges Bank bought a new position in HollyFrontier in the fourth quarter worth approximately $97,790,000. AQR Capital Management LLC grew its stake in HollyFrontier by 17.5% in the first quarter. AQR Capital Management LLC now owns 11,776,317 shares of the oil and gas company’s stock worth $580,219,000 after purchasing an additional 1,753,888 shares in the last quarter. FMR LLC grew its stake in HollyFrontier by 66.2% in the fourth quarter. FMR LLC now owns 2,114,787 shares of the oil and gas company’s stock worth $108,108,000 after purchasing an additional 842,025 shares in the last quarter. Hexavest Inc. bought a new position in HollyFrontier in the first quarter worth approximately $31,543,000. Finally, Teacher Retirement System of Texas grew its stake in HollyFrontier by 75.5% in the fourth quarter. Teacher Retirement System of Texas now owns 1,061,807 shares of the oil and gas company’s stock worth $54,280,000 after purchasing an additional 456,731 shares in the last quarter. Hedge funds and other institutional investors own 86.26% of the company’s stock.

Shares of HFC stock opened at $46.28 on Friday. HollyFrontier has a 1 year low of $37.73 and a 1 year high of $76.56. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.99 and a current ratio of 1.99. The company’s 50 day moving average is $41.83. The stock has a market capitalization of $7.73 billion, a P/E ratio of 7.19, a PEG ratio of 0.94 and a beta of 1.28.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Monday, May 20th were issued a $0.33 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.32 annualized dividend and a dividend yield of 2.85%. HollyFrontier’s payout ratio is 20.50%.

HollyFrontier Company Profile

HollyFrontier Corporation operates as an independent petroleum refiner in the United States. The company operates through three segments: Refining, Lubricants and Specialty Products, and HEP. It primarily produces high-value light products, such as gasoline, diesel and jet fuel, and specialty lubricant products, as well as specialty and modified asphalt.

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Earnings History and Estimates for HollyFrontier (NYSE:HFC)

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