Wall Street analysts forecast that Suburban Propane Partners LP (NYSE:SPH) will announce sales of $189.92 million for the current quarter, Zacks reports. Two analysts have provided estimates for Suburban Propane Partners’ earnings. The highest sales estimate is $196.89 million and the lowest is $182.95 million. Suburban Propane Partners posted sales of $197.11 million during the same quarter last year, which suggests a negative year-over-year growth rate of 3.6%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, November 15th.
According to Zacks, analysts expect that Suburban Propane Partners will report full year sales of $1.35 billion for the current financial year, with estimates ranging from $1.33 billion to $1.38 billion. For the next financial year, analysts expect that the business will post sales of $1.45 billion, with estimates ranging from $1.34 billion to $1.57 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Suburban Propane Partners.
Suburban Propane Partners (NYSE:SPH) last released its earnings results on Thursday, August 9th. The energy company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.20. Suburban Propane Partners had a return on equity of 13.26% and a net margin of 5.69%. The company had revenue of $241.90 million for the quarter, compared to analysts’ expectations of $253.17 million. During the same quarter in the previous year, the business posted ($0.48) EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis.
Several brokerages recently commented on SPH. Zacks Investment Research cut Suburban Propane Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 25th. ValuEngine cut Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Suburban Propane Partners has an average rating of “Hold” and a consensus price target of $26.75.
In related news, insider Douglas Brinkworth sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $24.32, for a total value of $194,560.00. Following the completion of the sale, the insider now owns 72,437 shares of the company’s stock, valued at approximately $1,761,667.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michael Kuglin sold 7,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $24.10, for a total value of $174,725.00. Following the completion of the sale, the chief financial officer now owns 62,449 shares of the company’s stock, valued at $1,505,020.90. The disclosure for this sale can be found here. In the last three months, insiders sold 16,750 shares of company stock valued at $404,790. 0.75% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its holdings in Suburban Propane Partners by 19.4% in the 3rd quarter. Wells Fargo & Company MN now owns 138,315 shares of the energy company’s stock worth $3,255,000 after purchasing an additional 22,432 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Suburban Propane Partners by 76.9% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 19,956 shares of the energy company’s stock worth $470,000 after purchasing an additional 8,672 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Suburban Propane Partners by 80.2% in the 3rd quarter. Private Advisor Group LLC now owns 32,174 shares of the energy company’s stock worth $757,000 after purchasing an additional 14,316 shares during the last quarter. Cowen Prime Services LLC lifted its holdings in Suburban Propane Partners by 74.6% in the 3rd quarter. Cowen Prime Services LLC now owns 5,513 shares of the energy company’s stock worth $130,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Cornerstone Wealth Management LLC acquired a new stake in Suburban Propane Partners in the 3rd quarter worth approximately $300,000. Hedge funds and other institutional investors own 29.41% of the company’s stock.
NYSE:SPH opened at $22.48 on Tuesday. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 3.71 and a beta of 0.53. Suburban Propane Partners has a fifty-two week low of $21.85 and a fifty-two week high of $26.73. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 1.07.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Tuesday, November 6th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.40 annualized dividend and a dividend yield of 10.68%. Suburban Propane Partners’s payout ratio is 342.86%.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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