Zacks: Brokerages Expect Delek US Holdings, Inc. (DK) Will Post Quarterly Sales of $2.07 Billion

Wall Street brokerages forecast that Delek US Holdings, Inc. (NYSE:DK) will report $2.07 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Delek US’s earnings, with the highest sales estimate coming in at $2.21 billion and the lowest estimate coming in at $1.92 billion. Delek US posted sales of $1.08 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 91.7%. The company is expected to report its next earnings results on Monday, February 26th.

On average, analysts expect that Delek US will report full year sales of $2.07 billion for the current year, with estimates ranging from $6.62 billion to $8.06 billion. For the next fiscal year, analysts forecast that the company will post sales of $10.62 billion per share, with estimates ranging from $9.38 billion to $12.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Delek US.

Several equities research analysts have weighed in on the company. Zacks Investment Research raised Delek US from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Friday, November 10th. Wells Fargo & Company reaffirmed a “positive” rating on shares of Delek US in a research report on Thursday, November 23rd. Tudor Pickering raised Delek US from a “hold” rating to a “buy” rating in a research report on Friday, November 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $32.00 price target on shares of Delek US in a research report on Friday, September 8th. Finally, Cowen restated a “buy” rating and set a $33.00 target price on shares of Delek US in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $31.67.

Delek US (NYSE:DK) traded down $0.27 during midday trading on Monday, hitting $32.27. The company had a trading volume of 1,076,065 shares, compared to its average volume of 1,069,652. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.06 and a current ratio of 1.49. Delek US has a 52-week low of $20.65 and a 52-week high of $33.74. The firm has a market cap of $2,650.45, a P/E ratio of 250.31, a price-to-earnings-growth ratio of 3.79 and a beta of 2.02.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Wednesday, November 22nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Tuesday, November 21st. Delek US’s dividend payout ratio is presently 37.97%.

In other Delek US news, COO Frederec Green sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $28.00, for a total value of $280,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Assi Ginzburg sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $28.00, for a total transaction of $560,000.00. The disclosure for this sale can be found here. Insiders sold a total of 195,631 shares of company stock worth $6,333,903 over the last ninety days. 1.61% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board increased its holdings in shares of Delek US by 51.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 242,900 shares of the oil and gas company’s stock worth $6,422,000 after buying an additional 82,600 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Delek US during the 2nd quarter worth approximately $2,572,000. Strs Ohio acquired a new stake in shares of Delek US during the 3rd quarter worth approximately $1,200,000. BNP Paribas Arbitrage SA increased its holdings in shares of Delek US by 65.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,068 shares of the oil and gas company’s stock worth $398,000 after buying an additional 5,966 shares during the last quarter. Finally, Boston Advisors LLC increased its holdings in shares of Delek US by 10.2% during the 3rd quarter. Boston Advisors LLC now owns 151,950 shares of the oil and gas company’s stock worth $4,062,000 after buying an additional 14,070 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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About Delek US

Delek US Holdings, Inc is a diversified downstream energy company. The Company has a broad platform consisting of refining, logistics, retail and wholesale marketing, renewables and asphalt operations. It operates through five segments: refining, logistics, asphalt, renewable and retail. Its refining assets consist of refineries operated in Tyler and Big Spring, Texas, El Dorado, Arkansas and Krotz Springs, Louisiana with a combined nameplate crude throughput capacity of 302,000 barrels per day.

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