Analysts expect Global Partners LP (NYSE:GLP) to post $0.20 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Global Partners’ earnings, with the highest EPS estimate coming in at $0.36 and the lowest estimate coming in at $0.01. Global Partners posted earnings per share of ($0.38) during the same quarter last year, which indicates a positive year-over-year growth rate of 152.6%. The business is scheduled to announce its next earnings results before the market opens on Thursday, March 8th.
On average, analysts expect that Global Partners will report full-year earnings of $1.34 per share for the current financial year, with EPS estimates ranging from $1.13 to $1.54. For the next financial year, analysts forecast that the company will post earnings of $0.58 per share, with EPS estimates ranging from $0.13 to $0.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Global Partners.
Several research analysts recently issued reports on the company. Zacks Investment Research cut Global Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Global Partners in a research report on Tuesday, November 21st. Finally, TheStreet raised Global Partners from a “d+” rating to a “c” rating in a research report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.00.
Shares of Global Partners (GLP) traded up $0.10 during trading hours on Friday, hitting $17.50. The company had a trading volume of 6,615 shares, compared to its average volume of 60,856. The stock has a market capitalization of $591.52, a PE ratio of -22.89 and a beta of 0.86. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.93 and a current ratio of 1.52. Global Partners has a one year low of $15.80 and a one year high of $20.86.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Friday, February 9th were issued a dividend of $0.4625 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.85 dividend on an annualized basis and a yield of 10.57%. Global Partners’s dividend payout ratio (DPR) is currently -243.42%.
A number of institutional investors have recently modified their holdings of GLP. Virtu KCG Holdings LLC bought a new stake in Global Partners during the second quarter worth $187,000. JPMorgan Chase & Co. lifted its holdings in Global Partners by 448.7% during the second quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock worth $188,000 after acquiring an additional 8,534 shares during the period. Fort Point Capital Partners LLC bought a new stake in Global Partners during the fourth quarter worth $225,000. Commonwealth Equity Services Inc lifted its holdings in Global Partners by 28.9% during the third quarter. Commonwealth Equity Services Inc now owns 16,171 shares of the energy company’s stock worth $281,000 after acquiring an additional 3,624 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in Global Partners by 0.9% during the second quarter. Wells Fargo & Company MN now owns 17,412 shares of the energy company’s stock worth $314,000 after acquiring an additional 154 shares during the period. Institutional investors and hedge funds own 40.78% of the company’s stock.
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About Global Partners
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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