Brokerages Expect Global Partners (GLP) to Announce $0.12 EPS

Wall Street brokerages expect Global Partners (NYSE:GLP) to announce earnings per share of $0.12 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Global Partners’ earnings. The highest EPS estimate is $0.16 and the lowest is $0.10. Global Partners posted earnings per share of $0.07 during the same quarter last year, which would suggest a positive year over year growth rate of 71.4%. The firm is scheduled to report its next earnings results on Wednesday, August 8th.

On average, analysts expect that Global Partners will report full year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.90 to $2.04. For the next year, analysts expect that the business will post earnings of $0.41 per share, with EPS estimates ranging from $0.18 to $0.59. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Global Partners.

Global Partners (NYSE:GLP) last issued its earnings results on Wednesday, May 9th. The energy company reported $1.73 EPS for the quarter, topping the consensus estimate of $0.17 by $1.56. Global Partners had a return on equity of 8.27% and a net margin of 1.00%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.35 billion.

Several brokerages have commented on GLP. Zacks Investment Research downgraded Global Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Stifel Nicolaus downgraded Global Partners from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research note on Tuesday, March 13th. Barclays restated an “equal weight” rating and issued a $18.00 target price (down previously from $19.00) on shares of Global Partners in a research note on Monday, March 12th. Finally, ValuEngine downgraded Global Partners from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $18.25.

NYSE GLP traded up $0.15 during trading hours on Friday, hitting $17.45. The company had a trading volume of 246,500 shares, compared to its average volume of 78,085. Global Partners has a 52 week low of $15.16 and a 52 week high of $20.86. The company has a quick ratio of 0.79, a current ratio of 1.31 and a debt-to-equity ratio of 2.94. The company has a market cap of $555.83 million, a P/E ratio of 12.55 and a beta of 0.85.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Thursday, May 10th will be given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.61%. The ex-dividend date of this dividend is Wednesday, May 9th. This is an increase from Global Partners’s previous quarterly dividend of $0.46. Global Partners’s dividend payout ratio (DPR) is 133.09%.

Institutional investors and hedge funds have recently modified their holdings of the company. Fort Point Capital Partners LLC bought a new stake in shares of Global Partners during the 4th quarter valued at about $225,000. Wells Fargo & Company MN boosted its position in shares of Global Partners by 28.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,517 shares of the energy company’s stock valued at $393,000 after acquiring an additional 5,245 shares during the last quarter. Penbrook Management LLC bought a new stake in shares of Global Partners during the 4th quarter valued at about $451,000. Acadian Asset Management LLC boosted its position in shares of Global Partners by 263.2% during the 4th quarter. Acadian Asset Management LLC now owns 41,437 shares of the energy company’s stock valued at $693,000 after acquiring an additional 30,029 shares during the last quarter. Finally, Geode Capital Management LLC bought a new stake in shares of Global Partners during the 4th quarter valued at about $973,000. Hedge funds and other institutional investors own 42.76% of the company’s stock.

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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