Scotiabank Analysts Decrease Earnings Estimates for Delek US

Delek US Holdings, Inc. (NYSE:DK - Free Report) - Research analysts at Scotiabank lowered their FY2024 earnings estimates for Delek US in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng now anticipates that the oil and gas company will post earnings of ($4.55) per share for the year, down from their previous forecast of ($1.85). Scotiabank 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported ($1.45) earnings per share for the quarter, beating analysts' consensus estimates of ($1.71) by $0.26. Delek US had a negative return on equity of 28.21% and a negative net margin of 2.27%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the company earned $2.02 EPS. The firm's revenue for the quarter was down 34.3% on a year-over-year basis.

A number of other research firms have also weighed in on DK. JPMorgan Chase & Co. raised their price objective on shares of Delek US from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Bank of America started coverage on shares of Delek US in a research report on Thursday, October 17th. They set an "underperform" rating and a $15.00 price target for the company. Mizuho lowered their price objective on Delek US from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. StockNews.com lowered Delek US from a "hold" rating to a "sell" rating in a report on Saturday, September 21st. Finally, Wells Fargo & Company lowered their price target on Delek US from $18.00 to $16.00 and set an "underweight" rating on the stock in a report on Monday, December 9th. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, Delek US presently has a consensus rating of "Hold" and an average price target of $21.00.

Delek US Price Performance

DK opened at $18.97 on Monday. The firm has a market cap of $1.20 billion, a PE ratio of -3.90 and a beta of 1.22. The stock has a 50-day moving average price of $18.03 and a 200-day moving average price of $19.57. Delek US has a 1 year low of $15.36 and a 1 year high of $33.60. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend was Tuesday, November 12th. Delek US's payout ratio is currently -20.99%.

Hedge Funds Weigh In On Delek US

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

About Delek US

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.