Zacks: Brokerages Anticipate Global Partners LP (GLP) Will Announce Earnings of $0.20 Per Share
Analysts forecast that Global Partners LP (NYSE:GLP) will announce earnings per share (EPS) of $0.20 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Global Partners’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.01. Global Partners posted earnings of ($0.38) per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 152.6%. The business is expected to report its next quarterly earnings results on Thursday, March 8th.
On average, analysts expect that Global Partners will report full-year earnings of $1.34 per share for the current year, with EPS estimates ranging from $1.13 to $1.54. For the next financial year, analysts expect that the business will report earnings of $0.58 per share, with EPS estimates ranging from $0.13 to $0.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Global Partners.
Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.19. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.29 billion. Global Partners had a negative net margin of 0.28% and a positive return on equity of 3.95%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($3.54) earnings per share.
GLP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, October 24th. TheStreet upgraded shares of Global Partners from a “d+” rating to a “c” rating in a research note on Thursday, November 30th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research note on Tuesday, November 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.00.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu KCG Holdings LLC bought a new position in Global Partners during the 2nd quarter valued at $187,000. JPMorgan Chase & Co. lifted its position in shares of Global Partners by 448.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock worth $188,000 after buying an additional 8,534 shares during the last quarter. Commonwealth Equity Services Inc lifted its position in shares of Global Partners by 28.9% in the 3rd quarter. Commonwealth Equity Services Inc now owns 16,171 shares of the energy company’s stock worth $281,000 after buying an additional 3,624 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Global Partners by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 17,412 shares of the energy company’s stock worth $314,000 after buying an additional 154 shares during the last quarter. Finally, Arrow Investment Advisors LLC lifted its position in shares of Global Partners by 14.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 40,807 shares of the energy company’s stock worth $710,000 after buying an additional 5,301 shares during the last quarter. Hedge funds and other institutional investors own 39.92% of the company’s stock.
Global Partners (GLP) traded down $0.10 during midday trading on Friday, reaching $17.95. 27,550 shares of the company’s stock were exchanged, compared to its average volume of 78,487. Global Partners has a 12-month low of $15.80 and a 12-month high of $21.95. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 2.95. The company has a market cap of $610.23, a P/E ratio of -23.93 and a beta of 1.09.
About Global Partners
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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