Brokerages forecast that Global Partners LP (NYSE:GLP) will report $0.08 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Global Partners’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at $0.30. Global Partners reported earnings of $0.20 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 60%. The business is expected to issue its next earnings report on Thursday, March 14th.
On average, analysts expect that Global Partners will report full year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.41 to $1.73. For the next year, analysts expect that the company will post earnings of $0.66 per share, with EPS estimates ranging from $0.41 to $0.97. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Global Partners.
Global Partners (NYSE:GLP) last released its earnings results on Thursday, November 8th. The energy company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.71). The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Global Partners had a net margin of 0.59% and a return on equity of 1.82%.
A number of analysts have recently issued reports on GLP shares. ValuEngine lowered Global Partners from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Zacks Investment Research lowered Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, Wells Fargo & Co increased their target price on Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, September 13th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.75.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC acquired a new position in shares of Global Partners in the second quarter worth $181,000. Albert D Mason Inc. increased its stake in shares of Global Partners by 57.6% in the third quarter. Albert D Mason Inc. now owns 29,105 shares of the energy company’s stock worth $530,000 after acquiring an additional 10,635 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Global Partners by 132.1% in the third quarter. GSA Capital Partners LLP now owns 29,186 shares of the energy company’s stock worth $531,000 after acquiring an additional 16,610 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Global Partners in the third quarter worth $1,081,000. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Global Partners in the third quarter worth $1,469,000. 41.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of GLP traded up $0.20 during mid-day trading on Friday, reaching $17.07. The company’s stock had a trading volume of 75,289 shares, compared to its average volume of 104,876. The firm has a market capitalization of $580.31 million, a P/E ratio of 12.28 and a beta of 0.73. Global Partners has a 1 year low of $15.16 and a 1 year high of $21.05. The company has a quick ratio of 0.67, a current ratio of 1.28 and a debt-to-equity ratio of 3.05.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Friday, November 9th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 11.13%. The ex-dividend date of this dividend was Thursday, November 8th. Global Partners’s dividend payout ratio (DPR) is presently 136.69%.
Global Partners Company Profile
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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