Brokerages Anticipate Calumet Specialty Products Partners, L.P (CLMT) Will Post Earnings of -$0.56 Per Share

Analysts expect that Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) will post earnings per share (EPS) of ($0.56) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Calumet Specialty Products Partners, L.P’s earnings. The lowest EPS estimate is ($0.60) and the highest is ($0.51). Calumet Specialty Products Partners, L.P posted earnings per share of ($0.98) during the same quarter last year, which would indicate a positive year-over-year growth rate of 42.9%. The company is expected to announce its next earnings report on Friday, February 23rd.

On average, analysts expect that Calumet Specialty Products Partners, L.P will report full-year earnings of ($0.51) per share for the current year, with EPS estimates ranging from ($0.86) to $0.11. For the next financial year, analysts expect that the business will post earnings of ($0.94) per share, with EPS estimates ranging from ($1.33) to ($0.51). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last announced its quarterly earnings data on Thursday, December 28th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.55). Calumet Specialty Products Partners, L.P had a negative return on equity of 48.84% and a negative net margin of 2.47%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1 billion.

CLMT has been the subject of several recent research reports. Zacks Investment Research upgraded Calumet Specialty Products Partners, L.P from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a report on Tuesday, December 12th. Cowen reiterated a “hold” rating and set a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P in a report on Tuesday, October 17th. Wells Fargo & Co increased their price objective on Calumet Specialty Products Partners, L.P from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. They noted that the move was a valuation call. Finally, BidaskClub lowered Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $6.29.

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. JPMorgan Chase & Co. raised its holdings in Calumet Specialty Products Partners, L.P by 350.0% during the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock valued at $154,000 after buying an additional 28,000 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Calumet Specialty Products Partners, L.P by 3.8% during the second quarter. Wells Fargo & Company MN now owns 479,323 shares of the oil and gas company’s stock valued at $2,037,000 after buying an additional 17,573 shares in the last quarter. Investment Centers of America Inc. raised its holdings in Calumet Specialty Products Partners, L.P by 1.2% during the second quarter. Investment Centers of America Inc. now owns 23,984 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 292 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Calumet Specialty Products Partners, L.P by 72.0% during the second quarter. GSA Capital Partners LLP now owns 230,822 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 96,622 shares in the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in Calumet Specialty Products Partners, L.P by 6.6% during the second quarter. Virtu KCG Holdings LLC now owns 47,580 shares of the oil and gas company’s stock valued at $202,000 after buying an additional 2,931 shares in the last quarter. Institutional investors own 13.80% of the company’s stock.

Shares of Calumet Specialty Products Partners, L.P (CLMT) traded up $0.20 during trading hours on Wednesday, hitting $7.90. The company had a trading volume of 465,201 shares, compared to its average volume of 516,651. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 10.67. Calumet Specialty Products Partners, L.P has a twelve month low of $3.40 and a twelve month high of $9.95. The stock has a market capitalization of $606.16, a price-to-earnings ratio of -6.27 and a beta of 1.23.

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Calumet Specialty Products Partners, L.P Company Profile

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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