Calumet Specialty Products Partners, L.P (CLMT) Expected to Announce Quarterly Sales of $754.61 Million

Wall Street brokerages expect Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to report sales of $754.61 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Calumet Specialty Products Partners, L.P’s earnings, with the lowest sales estimate coming in at $733.00 million and the highest estimate coming in at $776.22 million. Calumet Specialty Products Partners, L.P posted sales of $937.40 million during the same quarter last year, which would indicate a negative year over year growth rate of 19.5%. The company is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.

On average, analysts expect that Calumet Specialty Products Partners, L.P will report full-year sales of $754.61 million for the current fiscal year, with estimates ranging from $2.93 billion to $2.97 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.86 billion per share, with estimates ranging from $2.76 billion to $2.96 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Calumet Specialty Products Partners, L.P.

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CLMT has been the subject of several research reports. Zacks Investment Research downgraded Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a report on Friday, March 30th. ValuEngine downgraded Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a report on Tuesday, March 13th. Finally, BidaskClub downgraded Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $8.19.

Calumet Specialty Products Partners, L.P stock opened at $7.05 on Friday. Calumet Specialty Products Partners, L.P has a fifty-two week low of $3.40 and a fifty-two week high of $9.95. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 10.67. The stock has a market capitalization of $529.84, a PE ratio of -12.59 and a beta of 1.14.

A number of institutional investors and hedge funds have recently bought and sold shares of CLMT. Adams Asset Advisors LLC raised its stake in Calumet Specialty Products Partners, L.P by 71.1% during the 4th quarter. Adams Asset Advisors LLC now owns 1,399,880 shares of the oil and gas company’s stock valued at $12,117,000 after acquiring an additional 581,900 shares during the last quarter. Deutsche Bank AG raised its stake in Calumet Specialty Products Partners, L.P by 55.6% during the 4th quarter. Deutsche Bank AG now owns 801,758 shares of the oil and gas company’s stock valued at $6,173,000 after acquiring an additional 286,558 shares during the last quarter. GSA Capital Partners LLP raised its stake in Calumet Specialty Products Partners, L.P by 56.5% during the 3rd quarter. GSA Capital Partners LLP now owns 361,336 shares of the oil and gas company’s stock valued at $3,017,000 after acquiring an additional 130,514 shares during the last quarter. Acadian Asset Management LLC raised its stake in Calumet Specialty Products Partners, L.P by 34.9% during the 4th quarter. Acadian Asset Management LLC now owns 297,025 shares of the oil and gas company’s stock valued at $2,288,000 after acquiring an additional 76,768 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in Calumet Specialty Products Partners, L.P by 37.1% during the 4th quarter. California Public Employees Retirement System now owns 152,229 shares of the oil and gas company’s stock valued at $1,172,000 after acquiring an additional 41,229 shares during the last quarter. 14.55% of the stock is owned by hedge funds and other institutional investors.

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About Calumet Specialty Products Partners, L.P

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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