Equities analysts expect Global Partners LP (NYSE:GLP) to announce $2.98 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Global Partners’ earnings, with the lowest sales estimate coming in at $2.92 billion and the highest estimate coming in at $3.03 billion. Global Partners posted sales of $3.13 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The business is expected to issue its next earnings report on Thursday, August 8th.
On average, analysts expect that Global Partners will report full year sales of $12.12 billion for the current financial year, with estimates ranging from $10.89 billion to $12.83 billion. For the next fiscal year, analysts forecast that the company will post sales of $12.71 billion, with estimates ranging from $10.36 billion to $13.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Global Partners.
Global Partners (NYSE:GLP) last announced its earnings results on Thursday, May 9th. The energy company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.04. Global Partners had a return on equity of 12.35% and a net margin of 0.40%. The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.08 billion.
A number of equities analysts recently commented on the company. Barclays cut Global Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $19.00 to $18.00 in a report on Tuesday, April 16th. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.75.
A number of hedge funds have recently modified their holdings of the business. Raymond James & Associates increased its stake in Global Partners by 4.3% in the 4th quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after buying an additional 550 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Global Partners by 100.7% in the 1st quarter. JPMorgan Chase & Co. now owns 1,525 shares of the energy company’s stock worth $30,000 after buying an additional 765 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Global Partners by 242.1% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,837 shares of the energy company’s stock worth $36,000 after buying an additional 1,300 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Global Partners by 11.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,090 shares of the energy company’s stock worth $327,000 after buying an additional 2,018 shares in the last quarter. Finally, Kore Private Wealth LLC purchased a new stake in Global Partners in the 1st quarter worth $49,000. Institutional investors and hedge funds own 39.49% of the company’s stock.
Shares of Global Partners stock opened at $20.70 on Thursday. Global Partners has a one year low of $13.63 and a one year high of $21.05. The firm has a market capitalization of $688.75 million, a P/E ratio of 14.79 and a beta of 0.89. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 3.53.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, May 10th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date of this dividend was Thursday, May 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.50. Global Partners’s dividend payout ratio is presently 117.92%.
Global Partners Company Profile
Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers in the New England states and New York.
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