Brokerages Expect Green Plains Partners LP (GPP) Will Announce Quarterly Sales of $28.81 Million
Wall Street brokerages expect Green Plains Partners LP (NASDAQ:GPP) to announce $28.81 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Green Plains Partners’ earnings, with the lowest sales estimate coming in at $28.25 million and the highest estimate coming in at $29.60 million. Green Plains Partners posted sales of $25.49 million during the same quarter last year, which suggests a positive year over year growth rate of 13%. The firm is scheduled to announce its next earnings results on Monday, August 7th.
On average, analysts expect that Green Plains Partners will report full year sales of $28.81 million for the current financial year, with estimates ranging from $113.70 million to $116.30 million. For the next year, analysts expect that the firm will report sales of $126.42 million per share, with estimates ranging from $123.79 million to $129.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Green Plains Partners.
Green Plains Partners (NASDAQ:GPP) last posted its earnings results on Monday, May 1st. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by $0.03. Green Plains Partners had a net margin of 55.59% and a negative return on equity of 129.01%. The firm had revenue of $27.20 million during the quarter, compared to analyst estimates of $29.48 million. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year.
A number of research analysts recently weighed in on GPP shares. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price objective on shares of Green Plains Partners in a research note on Friday, March 24th. ValuEngine lowered shares of Green Plains Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research upgraded shares of Green Plains Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $21.30.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG raised its position in Green Plains Partners by 0.7% in the first quarter. UBS Group AG now owns 335,212 shares of the transportation company’s stock worth $6,738,000 after buying an additional 2,301 shares during the period. Geode Capital Management LLC raised its position in Green Plains Partners by 40.0% in the first quarter. Geode Capital Management LLC now owns 18,168 shares of the transportation company’s stock worth $364,000 after buying an additional 5,192 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Green Plains Partners by 11.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,635 shares of the transportation company’s stock worth $274,000 after buying an additional 1,417 shares during the period. HITE Hedge Asset Management LLC purchased a new position in Green Plains Partners during the first quarter worth approximately $322,000. Finally, Mondrian Investment Partners LTD purchased a new position in Green Plains Partners during the first quarter worth approximately $1,741,000. Hedge funds and other institutional investors own 54.54% of the company’s stock.
Green Plains Partners (NASDAQ:GPP) traded down 3.747% during trading on Friday, hitting $17.855. The stock had a trading volume of 34,255 shares. The firm has a market capitalization of $567.79 million, a PE ratio of 9.720 and a beta of 0.94. Green Plains Partners has a 1-year low of $14.55 and a 1-year high of $21.75. The firm has a 50 day moving average price of $19.34 and a 200-day moving average price of $19.64.
Green Plains Partners Company Profile
Green Plains Partners LP provides fuel storage and transportation services. The Company owns, operates, develops and acquires ethanol and fuel storage facilities, terminals, transportation assets, and other related assets and businesses. The Company’s parent company is Green Plains Inc (Green Plains).
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