Scotiabank Issues Pessimistic Forecast for Delek US Earnings

Delek US Holdings, Inc. (NYSE:DK) – Scotiabank cut their FY2024 earnings estimates for shares of Delek US in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the oil and gas company will post earnings per share of ($4.55) for the year, down from their previous forecast of ($1.85). Scotiabank currently has a “Sector Perform” rating and a $22.00 price target on the stock. The consensus estimate for Delek US’s current full-year earnings is ($4.38) per share. Scotiabank also issued estimates for Delek US’s FY2025 earnings at ($3.00) EPS and FY2026 earnings at ($2.60) EPS.

Delek US (NYSE:DK) last issued its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.71) by $0.26. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.23 billion. Delek US had a negative net margin of 2.27% and a negative return on equity of 28.21%. Delek US’s quarterly revenue was down 34.3% compared to the same quarter last year. During the same period last year, the business earned $2.02 EPS.

A number of other analysts have also weighed in on the stock. Wolfe Research upgraded shares of Delek US from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Delek US from $18.00 to $16.00 and set an “underweight” rating for the company in a research note on Monday, December 9th. Piper Sandler reduced their price objective on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, September 20th. Mizuho reduced their price objective on shares of Delek US from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, StockNews.com lowered shares of Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.00.

Delek US Stock Up 2.2 %

Shares of Delek US stock opened at $19.90 on Monday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -4.09 and a beta of 1.22. The company has a debt-to-equity ratio of 3.18, a current ratio of 1.04 and a quick ratio of 0.67. Delek US has a 1 year low of $15.36 and a 1 year high of $33.60. The company has a 50-day moving average of $18.19 and a 200 day moving average of $19.50.

Delek US Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Tuesday, November 12th. Delek US’s payout ratio is presently -20.99%.

Hedge Funds Weigh In On Delek US

A number of institutional investors and hedge funds have recently made changes to their positions in the business. River Road Asset Management LLC boosted its holdings in shares of Delek US by 1.1% in the third quarter. River Road Asset Management LLC now owns 4,100,268 shares of the oil and gas company’s stock worth $76,880,000 after buying an additional 45,949 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Delek US by 17.2% in the third quarter. Victory Capital Management Inc. now owns 3,279,590 shares of the oil and gas company’s stock worth $61,492,000 after buying an additional 480,614 shares during the last quarter. State Street Corp boosted its holdings in shares of Delek US by 8.0% in the third quarter. State Street Corp now owns 3,019,307 shares of the oil and gas company’s stock worth $56,612,000 after buying an additional 223,110 shares during the last quarter. Rubric Capital Management LP purchased a new position in shares of Delek US in the third quarter worth approximately $37,500,000. Finally, FMR LLC boosted its holdings in shares of Delek US by 47.3% in the third quarter. FMR LLC now owns 1,707,773 shares of the oil and gas company’s stock worth $32,021,000 after buying an additional 548,777 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Delek US Company Profile

Delek US Holdings, Inc engages in the integrated downstream energy business in the United States. The company operates through Refining, Logistics, and Retail segments. The Refining segment processes crude oil and other feedstock for the manufacture of various grades of gasoline, diesel fuel, aviation fuel, asphalt, and other petroleum-based products that are distributed through owned and third-party product terminal.