$569.63 Million in Sales Expected for Sprague Resources LP (SRLP) This Quarter
Brokerages forecast that Sprague Resources LP (NYSE:SRLP) will report sales of $569.63 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Sprague Resources’ earnings, with the highest sales estimate coming in at $674.00 million and the lowest estimate coming in at $501.61 million. Sprague Resources reported sales of $422.78 million during the same quarter last year, which indicates a positive year-over-year growth rate of 34.7%. The company is expected to announce its next earnings results on Monday, November 6th.
On average, analysts expect that Sprague Resources will report full year sales of $569.63 million for the current fiscal year, with estimates ranging from $2.70 billion to $3.30 billion. For the next year, analysts expect that the business will post sales of $3.10 billion per share, with estimates ranging from $2.88 billion to $3.34 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Sprague Resources.
Sprague Resources (NYSE:SRLP) last issued its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of $0.01 by $0.40. The business had revenue of $513.63 million during the quarter, compared to analyst estimates of $529.66 million. Sprague Resources had a return on equity of 29.64% and a net margin of 1.77%.
SRLP has been the topic of several recent research reports. Zacks Investment Research upgraded Sprague Resources from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub upgraded Sprague Resources from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $31.67.
In other news, Director Ben J. Hennelly sold 2,456 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $26.94, for a total value of $66,164.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its stake in shares of Sprague Resources by 116.0% in the first quarter. Acrospire Investment Management LLC now owns 3,905 shares of the oil and gas company’s stock worth $106,000 after buying an additional 2,097 shares during the period. Creative Planning boosted its stake in shares of Sprague Resources by 81.8% in the second quarter. Creative Planning now owns 4,570 shares of the oil and gas company’s stock worth $129,000 after buying an additional 2,056 shares during the period. Friedberg Investment Management purchased a new stake in shares of Sprague Resources during the first quarter worth about $224,000. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Sprague Resources during the first quarter worth about $245,000. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of Sprague Resources during the second quarter worth about $255,000. 25.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Sprague Resources (SRLP) opened at 27.00 on Tuesday. The firm has a 50-day moving average price of $27.45 and a 200 day moving average price of $27.09. Sprague Resources has a one year low of $22.50 and a one year high of $30.75. The firm has a market cap of $608.66 million, a P/E ratio of 13.73 and a beta of 1.39.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Monday, August 7th were issued a $0.608 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.43 dividend on an annualized basis and a dividend yield of 9.01%. This is an increase from Sprague Resources’s previous quarterly dividend of $0.46. Sprague Resources’s dividend payout ratio is presently 119.70%.
Sprague Resources Company Profile
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