Scotiabank Has Bearish Estimate for Delek US FY2024 Earnings

Delek US Holdings, Inc. (NYSE:DK) – Stock analysts at Scotiabank reduced their FY2024 EPS estimates for shares of Delek US in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Cheng now expects that the oil and gas company will earn ($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) last announced its quarterly earnings results 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. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 34.3% on a year-over-year basis. During the same period last year, the company posted $2.02 EPS.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price objective on Delek US from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley cut their price target on shares of Delek US from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, September 16th. Piper Sandler dropped their price objective on shares of Delek US from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, September 20th. StockNews.com downgraded Delek US from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Bank of America started coverage on Delek US in a research report on Thursday, October 17th. They set an “underperform” rating and a $15.00 price objective for the company. Five analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Delek US presently has an average rating of “Hold” and an average price target of $21.00.

Delek US Price Performance

DK opened at $18.97 on Monday. The stock has a market cap of $1.20 billion, a P/E ratio of -3.90 and a beta of 1.22. Delek US has a 12 month low of $15.36 and a 12 month high of $33.60. The company has a quick ratio of 0.67, a current ratio of 1.04 and a debt-to-equity ratio of 3.18. The company has a fifty day simple moving average of $18.03 and a 200 day simple moving average of $19.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Delek US in the 2nd quarter valued at about $43,000. Farther Finance Advisors LLC boosted its stake in shares of Delek US by 24.2% in the third quarter. Farther Finance Advisors LLC now owns 7,733 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 1,508 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Delek US during the third quarter worth approximately $193,000. MQS Management LLC bought a new position in Delek US during the 3rd quarter worth $201,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Delek US in the 2nd quarter valued at $223,000. 97.01% of the stock is owned by institutional investors.

Delek US Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 18th. Investors of record on Tuesday, November 12th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date was Tuesday, November 12th. Delek US’s dividend payout ratio (DPR) is presently -20.99%.

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.