Zacks: Brokerages Expect HollyFrontier Corp (NYSE:HFC) to Announce -$0.56 EPS

Wall Street analysts expect HollyFrontier Corp (NYSE:HFC) to report earnings of ($0.56) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for HollyFrontier’s earnings, with the highest EPS estimate coming in at ($0.50) and the lowest estimate coming in at ($0.68). HollyFrontier posted earnings of $1.68 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 133.3%. The business is scheduled 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 earnings of ($0.44) per share for the current financial year, with EPS estimates ranging from ($1.16) to $0.25. For the next year, analysts anticipate that the company will post earnings of $0.81 per share, with EPS estimates ranging from ($0.10) to $2.49. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for HollyFrontier.

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

Several equities research analysts recently weighed in on HFC shares. Piper Sandler reduced their price target on shares of HollyFrontier from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Jefferies Financial Group reduced their price target on shares of HollyFrontier from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, June 23rd. Wells Fargo & Company boosted their price target on shares of HollyFrontier from $25.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Credit Suisse Group restated a “hold” rating and issued a $35.00 price target on shares of HollyFrontier in a research report on Monday, August 10th. Finally, Scotiabank reduced their price target 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.29.

Several institutional investors and hedge funds have recently modified their holdings of HFC. Principal Financial Group Inc. boosted its stake in shares of HollyFrontier by 187.6% during the first quarter. Principal Financial Group Inc. now owns 1,449,157 shares of the oil and gas company’s stock valued at $35,517,000 after purchasing an additional 945,224 shares during the period. State Street Corp lifted its stake in HollyFrontier by 9.8% in the first quarter. State Street Corp now owns 10,356,839 shares of the oil and gas company’s stock worth $253,846,000 after acquiring an additional 927,847 shares during the period. Encompass Capital Advisors LLC purchased a new stake in HollyFrontier in the second quarter worth about $23,916,000. Point72 Asset Management L.P. purchased a new stake in HollyFrontier in the second quarter worth about $23,802,000. Finally, AQR Capital Management LLC lifted its stake in HollyFrontier by 23.8% in the second quarter. AQR Capital Management LLC now owns 3,255,963 shares of the oil and gas company’s stock worth $88,627,000 after acquiring an additional 625,566 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

HFC traded down $0.77 during trading hours on Friday, hitting $18.94. The company’s stock had a trading volume of 3,057,172 shares, compared to its average volume of 2,705,048. The business’s 50-day moving average price is $23.36 and its 200-day moving average price is $26.80. HollyFrontier has a 12 month low of $18.48 and a 12 month high of $58.88. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of -18.57 and a beta of 1.60. 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 was Friday, August 14th. HollyFrontier’s payout ratio is 28.57%.

About HollyFrontier

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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