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5 Expectations From Barclays For Tesoro's Q2 Earnings

5 Expectations From Barclays For Tesoro's Q2 Earnings
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Tesoro Corporation (NYSE: TSO) could deliver an EPS miss in 2Q, Barclays’ Paul Y. Cheng said in a report. He maintained an Overweight rating on the company, with a price target of $105.

Related Link: Tesoro Upgraded For Third Time In A Month

The five expectations mentioned by the analyst were:

  1. Tesoro is expected to report its 2Q16 operating EPS at $1.71, short of the consensus estimate of $1.77. “Our 2Q16 estimate assumes zero inventory/trading gain/(loss), and no LCM adjustment,” Cheng wrote.
  2. Throughput could average 811 mb/d [000s b/d], representing 4 percent sequential and y/y growth.
  3. Realized refining margin is expected to average $11.6/bl, up from the 1Q16 level of $9.7/bl, while representing a decline from the 2Q15 level of $19.1/bl.
  4. Operating costs are estimated at $4.8/bl, down 13 percent sequentially and y/y.
  5. Retail fuel margins are estimated at $0.100/gal, down from the 1Q16 level of $0.139/gal and 2Q15 level of $0.137/gal.

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Latest Ratings for TSO

Jul 2017CitigroupMaintainsBuy
Jun 2017Goldman SachsReinstatesBuyBuy
May 2017Morgan StanleyUpgradesEqual-WeightOverweight

View More Analyst Ratings for TSO
View the Latest Analyst Ratings

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