Scotiabank Has Weak Forecast for HF Sinclair FY2024 Earnings

HF Sinclair Co. (NYSE:DINO) – Stock analysts at Scotiabank dropped their FY2024 earnings per share estimates for shares of HF Sinclair in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now forecasts that the company will post earnings per share of $2.40 for the year, down from their prior forecast of $3.10. Scotiabank currently has a “Sector Outperform” rating and a $57.00 price objective on the stock. The consensus estimate for HF Sinclair’s current full-year earnings is $2.27 per share. Scotiabank also issued estimates for HF Sinclair’s FY2025 earnings at $3.75 EPS.

A number of other analysts also recently issued reports on the company. Piper Sandler cut their price objective on HF Sinclair from $58.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, September 20th. UBS Group cut their price objective on HF Sinclair from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company downgraded HF Sinclair from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $53.00 to $45.00 in a research report on Monday, December 9th. Mizuho cut their price objective on HF Sinclair from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. cut their price objective on HF Sinclair from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

HF Sinclair Stock Down 1.3 %

Shares of NYSE:DINO opened at $36.38 on Monday. The business has a 50-day moving average price of $38.33 and a 200 day moving average price of $43.68. The company has a current ratio of 1.81, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 22.46 and a beta of 1.22. HF Sinclair has a 12-month low of $33.47 and a 12-month high of $64.16.

HF Sinclair (NYSE:DINO) last issued its earnings results on Thursday, October 31st. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.19. HF Sinclair had a return on equity of 5.51% and a net margin of 1.10%. The business had revenue of $7.21 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the company earned $4.06 EPS. The company’s revenue for the quarter was down 19.1% on a year-over-year basis.

HF Sinclair Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Thursday, November 21st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.50%. The ex-dividend date was Thursday, November 21st. HF Sinclair’s payout ratio is presently 123.46%.

Insider Activity

In related news, CFO Atanas H. Atanasov acquired 7,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $37.96 per share, for a total transaction of $265,720.00. Following the purchase, the chief financial officer now owns 71,927 shares of the company’s stock, valued at $2,730,348.92. This represents a 10.78 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Franklin Myers acquired 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was bought at an average price of $38.76 per share, with a total value of $193,800.00. Following the purchase, the director now directly owns 145,293 shares in the company, valued at approximately $5,631,556.68. This trade represents a 3.56 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 17,000 shares of company stock worth $628,370. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On HF Sinclair

Hedge funds and other institutional investors have recently made changes to their positions in the business. Matrix Trust Co raised its position in shares of HF Sinclair by 122.4% during the 3rd quarter. Matrix Trust Co now owns 576 shares of the company’s stock worth $26,000 after acquiring an additional 317 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of HF Sinclair during the 3rd quarter worth about $27,000. Massmutual Trust Co. FSB ADV raised its position in shares of HF Sinclair by 82.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 820 shares of the company’s stock worth $37,000 after acquiring an additional 370 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in shares of HF Sinclair during the 3rd quarter worth about $50,000. Finally, Coastline Trust Co acquired a new stake in shares of HF Sinclair during the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 88.29% of the company’s stock.

About HF Sinclair

HF Sinclair Corporation operates as an independent energy company. The company produces and markets gasoline, diesel fuel, jet fuel, renewable diesel, specialty lubricant products, specialty chemicals, specialty and modified asphalt, and others. It owns and operates refineries located in Kansas, Oklahoma, New Mexico, Utah, Washington, and Wyoming; and markets its refined products principally in the Southwest United States and Rocky Mountains, Pacific Northwest, and in other neighboring Plains states.