HollyFrontier Corp (NYSE:HFC) Expected to Announce Quarterly Sales of $2.59 Billion

Wall Street brokerages forecast that HollyFrontier Corp (NYSE:HFC) will report $2.59 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for HollyFrontier’s earnings, with the lowest sales estimate coming in at $2.27 billion and the highest estimate coming in at $3.00 billion. HollyFrontier posted sales of $4.42 billion in the same quarter last year, which suggests a negative year over year growth rate of 41.4%. The company is expected to issue its next quarterly earnings results before the market opens on Thursday, November 5th.

According to Zacks, analysts expect that HollyFrontier will report full-year sales of $10.88 billion for the current fiscal year, with estimates ranging from $10.29 billion to $11.66 billion. For the next fiscal year, analysts forecast that the firm will report sales of $13.04 billion, with estimates ranging from $12.46 billion to $14.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover HollyFrontier.

HollyFrontier (NYSE:HFC) last released its earnings results on Thursday, August 6th. The oil and gas company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.31. HollyFrontier had a negative net margin of 1.11% and a positive return on equity of 6.41%. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter last year, the business earned $2.18 EPS. The firm’s revenue was down 56.9% compared to the same quarter last year.

HFC has been the topic of a number of recent analyst reports. Goldman Sachs Group upgraded shares of HollyFrontier from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Friday, August 7th. Scotiabank reduced their price objective on shares of HollyFrontier from $40.00 to $36.00 and set a “sector outperform” rating on the stock in a research report on Monday, July 13th. Morgan Stanley reduced their price objective on shares of HollyFrontier from $32.00 to $29.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 11th. Credit Suisse Group reiterated a “hold” rating and set a $35.00 price objective on shares of HollyFrontier in a research report on Monday, August 10th. Finally, Cowen cut shares of HollyFrontier from a “market perform” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $34.29.

NYSE HFC traded down $0.77 on Monday, reaching $18.94. 3,057,172 shares of the stock were exchanged, compared to its average volume of 2,705,048. HollyFrontier has a one year low of $18.48 and a one year high of $58.88. The firm has a market capitalization of $3.07 billion, a PE ratio of -18.57 and a beta of 1.60. The company’s 50-day simple moving average is $23.36 and its two-hundred day simple moving average is $26.80. The company has a current ratio of 2.10, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.39%. The ex-dividend date of this dividend was Friday, August 14th. HollyFrontier’s payout ratio is 28.57%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tobam purchased a new position in HollyFrontier during the second quarter worth $27,000. Ameritas Investment Company LLC purchased a new position in HollyFrontier during the first quarter worth $25,000. NuWave Investment Management LLC purchased a new position in HollyFrontier during the second quarter worth $38,000. Parallel Advisors LLC boosted its stake in HollyFrontier by 69.1% during the second quarter. Parallel Advisors LLC now owns 1,784 shares of the oil and gas company’s stock worth $52,000 after buying an additional 729 shares during the period. Finally, 1776 Wealth LLC boosted its stake in HollyFrontier by 81.7% during the second quarter. 1776 Wealth LLC now owns 2,295 shares of the oil and gas company’s stock worth $67,000 after buying an additional 1,032 shares during the period. 83.89% of the stock is owned by institutional investors.

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.

See Also: Net Asset Value

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Earnings History and Estimates for HollyFrontier (NYSE:HFC)

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