Analysts expect Sprague Resources LP (NYSE:SRLP) to announce ($0.07) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Sprague Resources’ earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.12). Sprague Resources posted earnings per share of ($0.68) during the same quarter last year, which indicates a positive year over year growth rate of 89.7%. The company is scheduled to report its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Sprague Resources will report full year earnings of $3.57 per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $1.80 to $2.51. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Sprague Resources.
Sprague Resources (NYSE:SRLP) last released its quarterly earnings data on Wednesday, August 8th. The oil and gas company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.15). The business had revenue of $741.66 million during the quarter, compared to analysts’ expectations of $678.35 million. Sprague Resources had a return on equity of 19.91% and a net margin of 0.91%.
Several analysts have commented on the stock. ValuEngine raised shares of Sprague Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research raised shares of Sprague Resources from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 12th. Finally, TheStreet raised shares of Sprague Resources from a “c+” rating to a “b” rating in a research report on Tuesday, July 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.00.
Shares of SRLP stock traded up $0.15 during mid-day trading on Wednesday, hitting $25.65. 500 shares of the stock traded hands, compared to its average volume of 19,588. The firm has a market cap of $570.59 million, a price-to-earnings ratio of 22.70 and a beta of 1.33. Sprague Resources has a 52-week low of $21.80 and a 52-week high of $29.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Monday, August 6th were given a $0.668 dividend. This is a positive change from Sprague Resources’s previous quarterly dividend of $0.65. This represents a $2.67 annualized dividend and a dividend yield of 10.42%. The ex-dividend date was Friday, August 3rd. Sprague Resources’s dividend payout ratio (DPR) is presently 236.28%.
A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in shares of Sprague Resources during the 2nd quarter worth approximately $414,000. Tower Research Capital LLC TRC acquired a new stake in shares of Sprague Resources during the 2nd quarter worth approximately $101,000. First Republic Investment Management Inc. grew its stake in shares of Sprague Resources by 197.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 37,370 shares of the oil and gas company’s stock worth $949,000 after purchasing an additional 24,791 shares during the period. Securian Asset Management Inc grew its stake in shares of Sprague Resources by 18.3% during the 2nd quarter. Securian Asset Management Inc now owns 71,118 shares of the oil and gas company’s stock worth $1,806,000 after purchasing an additional 11,000 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Sprague Resources by 19.2% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 16,794 shares of the oil and gas company’s stock worth $427,000 after purchasing an additional 2,700 shares during the period. Institutional investors own 20.64% of the company’s stock.
About Sprague Resources
Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.
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