Wall Street analysts expect that Global Partners (NYSE:GLP) will announce $2.42 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Global Partners’ earnings, with estimates ranging from $2.40 billion to $2.45 billion. Global Partners reported sales of $2.09 billion during the same quarter last year, which would suggest a positive year over year growth rate of 15.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Global Partners will report full year sales of $9.92 billion for the current financial year, with estimates ranging from $8.97 billion to $10.67 billion. For the next year, analysts anticipate that the company will report sales of $10.06 billion per share, with estimates ranging from $8.97 billion to $11.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Global Partners.
Global Partners (NYSE:GLP) last released its quarterly earnings data on Wednesday, May 9th. The energy company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $1.56. Global Partners had a net margin of 1.00% and a return on equity of 8.03%. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.35 billion.
A number of research firms have issued reports on GLP. Stifel Nicolaus cut shares of Global Partners from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research report on Tuesday, March 13th. Barclays decreased their price objective on shares of Global Partners from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 17th. Zacks Investment Research upgraded shares of Global Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, ValuEngine cut shares of Global Partners from a “hold” rating to a “sell” rating in a research report 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 has a consensus rating of “Hold” and an average price target of $18.25.
Shares of Global Partners traded down $0.15, reaching $17.45, during mid-day trading on Tuesday, Marketbeat Ratings reports. The stock had a trading volume of 112,300 shares, compared to its average volume of 81,933. Global Partners has a 52-week low of $15.16 and a 52-week high of $19.80. The stock has a market capitalization of $583.02 million, a price-to-earnings ratio of 12.55 and a beta of 0.85. The company has a current ratio of 1.41, a quick ratio of 0.82 and a debt-to-equity ratio of 2.65.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Thursday, May 10th were paid a dividend of $0.463 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.61%. Global Partners’s payout ratio is presently 133.09%.
Several institutional investors and hedge funds have recently made changes to their positions in GLP. 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 stake 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 purchasing an additional 5,245 shares in 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 stake 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 purchasing an additional 30,029 shares in 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. 41.93% of the stock is currently owned by hedge funds and other institutional investors.
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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