Arko Corp. (NASDAQ:ARKO) Expected to Post Quarterly Sales of $2.11 Billion

Wall Street brokerages expect Arko Corp. (NASDAQ:ARKO) to report sales of $2.11 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Arko’s earnings, with the lowest sales estimate coming in at $2.05 billion and the highest estimate coming in at $2.19 billion. The company is scheduled to announce its next quarterly earnings results on Thursday, November 11th.

On average, analysts expect that Arko will report full-year sales of $7.34 billion for the current fiscal year, with estimates ranging from $7.24 billion to $7.52 billion. For the next financial year, analysts anticipate that the firm will report sales of $7.57 billion, with estimates ranging from $7.31 billion to $7.79 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Arko.

Arko (NASDAQ:ARKO) last announced its quarterly earnings results on Wednesday, August 11th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06.

Several brokerages recently issued reports on ARKO. Zacks Investment Research upgraded Arko from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Friday. Capital One Financial reiterated an “overweight” rating on shares of Arko in a report on Friday, May 28th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Arko has an average rating of “Buy” and an average target price of $12.25.

In other news, major shareholder Davidson Kempner Partners sold 377,743 shares of the firm’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $10.72, for a total transaction of $4,049,404.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 32.73% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its stake in Arko by 143.3% in the second quarter. Legal & General Group Plc now owns 3,625 shares of the company’s stock worth $34,000 after purchasing an additional 2,135 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Arko in the second quarter worth about $37,000. Pinz Capital Management LP acquired a new position in Arko in the second quarter worth about $58,000. UBS Group AG grew its stake in Arko by 24,639.4% in the first quarter. UBS Group AG now owns 8,164 shares of the company’s stock worth $81,000 after purchasing an additional 8,131 shares in the last quarter. Finally, Morgan Stanley bought a new position in Arko in the first quarter worth about $94,000. Institutional investors and hedge funds own 47.73% of the company’s stock.

NASDAQ ARKO traded down $0.18 during trading hours on Friday, hitting $9.85. The company had a trading volume of 24,067 shares, compared to its average volume of 593,042. Arko has a fifty-two week low of $7.32 and a fifty-two week high of $11.40. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 71.43 and a beta of 0.15. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.59 and a quick ratio of 1.10. The firm’s 50 day moving average is $8.93 and its 200 day moving average is $9.60.

About Arko

Arko Corp. operates convenience stores in the United States. It operates through three segments: Retail, Wholesale, and GPM Petroleum. The Retail segment engages in the sale of fuel and merchandise to retail consumers. The Wholesale segment supplies fuel to third-party dealers and consignment agents.

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