Zacks: Brokerages Expect Tesoro Co. (TSO) Will Announce Earnings of $1.53 Per Share

Equities research analysts expect Tesoro Co. (NYSE:TSO) to report $1.53 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Tesoro’s earnings. The highest EPS estimate is $1.99 and the lowest is $1.12. Tesoro reported earnings per share of $3.47 during the same quarter last year, which suggests a negative year over year growth rate of 55.9%. The company is expected to announce its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that Tesoro will report full year earnings of $5.36 per share for the current financial year, with EPS estimates ranging from $5.08 to $5.99. For the next financial year, analysts forecast that the business will report earnings of $7.42 per share, with EPS estimates ranging from $5.60 to $8.32. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Tesoro.

Tesoro (NYSE:TSO) last issued its quarterly earnings results on Monday, May 8th. The oil and gas company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.36 by $0.16. The company had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.46 billion. Tesoro had a net margin of 1.31% and a return on equity of 3.66%. The firm’s revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS.

A number of brokerages have weighed in on TSO. Royal Bank Of Canada reiterated a “hold” rating and set a $98.00 price target on shares of Tesoro in a research report on Thursday, April 27th. Jefferies Group LLC set a $94.00 price target on shares of Tesoro and gave the company a “buy” rating in a research report on Saturday, June 3rd. Credit Suisse Group reiterated a “neutral” rating and set a $107.00 price target (up from $100.00) on shares of Tesoro in a research report on Tuesday. Scotiabank reiterated a “buy” rating and set a $91.00 price target on shares of Tesoro in a research report on Monday, March 27th. Finally, BidaskClub upgraded shares of Tesoro from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tesoro presently has a consensus rating of “Buy” and a consensus target price of $106.88.

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Shares of Tesoro (NYSE:TSO) traded down 0.81% during trading on Tuesday, reaching $92.02. 912,173 shares of the company’s stock were exchanged. Tesoro has a 12-month low of $69.49 and a 12-month high of $94.32. The stock has a market cap of $10.78 billion, a P/E ratio of 15.34 and a beta of 1.76. The company has a 50 day moving average of $84.92 and a 200 day moving average of $84.33.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, May 19th were paid a dividend of $0.55 per share. The ex-dividend date was Wednesday, May 17th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.37%. Tesoro’s dividend payout ratio (DPR) is presently 36.85%.

In related news, CFO Steven Sterin purchased 1,150 shares of the stock in a transaction dated Thursday, June 1st. The shares were acquired at an average cost of $83.75 per share, with a total value of $96,312.50. Following the purchase, the chief financial officer now directly owns 9,942 shares in the company, valued at approximately $832,642.50. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Lilley purchased 500 shares of the stock in a transaction dated Thursday, June 1st. The shares were bought at an average cost of $83.16 per share, for a total transaction of $41,580.00. Following the completion of the purchase, the director now owns 15,134 shares in the company, valued at $1,258,543.44. The disclosure for this purchase can be found here. Corporate insiders own 0.86% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Tesoro by 5.7% in the first quarter. Vanguard Group Inc. now owns 12,016,473 shares of the oil and gas company’s stock worth $974,056,000 after buying an additional 651,961 shares during the period. BlackRock Inc. boosted its stake in shares of Tesoro by 2,273.3% in the first quarter. BlackRock Inc. now owns 8,913,506 shares of the oil and gas company’s stock worth $722,530,000 after buying an additional 8,537,930 shares during the last quarter. Boston Partners boosted its stake in shares of Tesoro by 42.4% in the first quarter. Boston Partners now owns 4,574,824 shares of the oil and gas company’s stock worth $370,835,000 after buying an additional 1,361,943 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tesoro by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 3,014,412 shares of the oil and gas company’s stock worth $244,346,000 after buying an additional 830,819 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tesoro by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,257,982 shares of the oil and gas company’s stock worth $183,024,000 after buying an additional 14,154 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.

Tesoro Company Profile

Tesoro Corporation (Tesoro) is an independent petroleum refining, logistics and marketing company. he Company operates through three segments. The Refining operating segment refines crude oil and other feedstocks into transportation fuels, such as gasoline and gasoline blendstocks, jet fuel and diesel fuel, as well as other products, including heavy fuel oils, liquefied petroleum gas and petroleum coke for sale in bulk markets to a range of customers within its markets.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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