Wall Street brokerages predict that Suburban Propane Partners LP (NYSE:SPH) will post sales of $189.92 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Suburban Propane Partners’ earnings, with estimates ranging from $182.95 million to $196.89 million. Suburban Propane Partners reported sales of $197.11 million during the same quarter last year, which suggests a negative year over year growth rate of 3.6%. The company is expected to issue its next earnings report on Thursday, November 15th.
On average, analysts expect that Suburban Propane Partners will report full-year sales of $1.35 billion for the current financial year, with estimates ranging from $1.33 billion to $1.38 billion. For the next financial year, analysts forecast that the firm will post sales of $1.45 billion, with estimates ranging from $1.34 billion to $1.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Suburban Propane Partners.
Suburban Propane Partners (NYSE:SPH) last posted its quarterly earnings data on Thursday, August 9th. The energy company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.20. Suburban Propane Partners had a return on equity of 13.26% and a net margin of 5.69%. The company had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $253.17 million. During the same period in the prior year, the business earned ($0.48) earnings per share. Suburban Propane Partners’s revenue for the quarter was up 8.5% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Suburban Propane Partners from a “sell” rating to a “hold” rating in a research report on Saturday, August 11th. ValuEngine cut Suburban Propane Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Suburban Propane Partners currently has an average rating of “Hold” and a consensus price target of $27.50.
SPH opened at $23.56 on Friday. Suburban Propane Partners has a 1-year low of $21.85 and a 1-year high of $27.05. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.07 and a quick ratio of 0.74. The company has a market capitalization of $1.44 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 5.04 and a beta of 0.55.
In other Suburban Propane Partners news, Director Jane Swift sold 1,500 shares of Suburban Propane Partners stock in a transaction on Friday, August 24th. The stock was sold at an average price of $23.67, for a total transaction of $35,505.00. Following the completion of the transaction, the director now directly owns 13,581 shares of the company’s stock, valued at $321,462.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Kuglin sold 7,250 shares of Suburban Propane Partners stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $24.10, for a total value of $174,725.00. Following the transaction, the chief financial officer now directly owns 62,449 shares of the company’s stock, valued at $1,505,020.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,750 shares of company stock valued at $404,790. 0.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Suburban Propane Partners by 3.7% during the second quarter. Janney Montgomery Scott LLC now owns 81,906 shares of the energy company’s stock valued at $1,924,000 after acquiring an additional 2,913 shares during the period. California Public Employees Retirement System lifted its holdings in shares of Suburban Propane Partners by 4.8% during the second quarter. California Public Employees Retirement System now owns 98,466 shares of the energy company’s stock valued at $2,313,000 after acquiring an additional 4,550 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Suburban Propane Partners by 16.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,573 shares of the energy company’s stock valued at $783,000 after acquiring an additional 4,944 shares during the period. Gables Capital Management Inc. bought a new position in shares of Suburban Propane Partners during the first quarter valued at $114,000. Finally, Private Advisor Group LLC lifted its holdings in shares of Suburban Propane Partners by 43.0% during the second quarter. Private Advisor Group LLC now owns 17,858 shares of the energy company’s stock valued at $420,000 after acquiring an additional 5,370 shares during the period. 29.39% of the stock is owned by institutional investors.
About Suburban Propane Partners
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. Its Propane segment is involved in the retail distribution of propane to residential, commercial, industrial, and agricultural customers, as well as in the wholesale distribution to industrial end users.
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