Equities research analysts expect that Sprague Resources LP (NYSE:SRLP) will post earnings per share of ($0.20) for the current quarter, Zacks reports. Two analysts have issued estimates for Sprague Resources’ earnings. The highest EPS estimate is ($0.12) and the lowest is ($0.27). Sprague Resources posted earnings of ($0.68) per share in the same quarter last year, which suggests a positive year over year growth rate of 70.6%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, November 7th.
According to Zacks, analysts expect that Sprague Resources will report full year earnings of $3.57 per share for the current financial year. For the next financial year, analysts forecast that the firm will post earnings of $2.24 per share, with EPS estimates ranging from $1.96 to $2.51. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Sprague Resources.
Sprague Resources (NYSE:SRLP) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.15). Sprague Resources had a net margin of 0.91% and a return on equity of 19.91%. The business had revenue of $741.66 million for the quarter, compared to analysts’ expectations of $678.35 million.
A number of research firms have recently weighed in on SRLP. Zacks Investment Research upgraded shares of Sprague Resources from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, October 10th. TheStreet lowered shares of Sprague Resources from a “b” rating to a “c” rating in a report on Thursday, October 11th. Finally, ValuEngine upgraded shares of Sprague Resources from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Sprague Resources presently has a consensus rating of “Hold” and a consensus target price of $28.00.
Several institutional investors have recently bought and sold shares of SRLP. Tower Research Capital LLC TRC bought a new position in Sprague Resources in the second quarter worth about $101,000. UBS Group AG raised its stake in Sprague Resources by 32.9% in the first quarter. UBS Group AG now owns 8,637 shares of the oil and gas company’s stock worth $206,000 after buying an additional 2,137 shares in the last quarter. Nwam LLC bought a new position in Sprague Resources in the second quarter worth about $292,000. Cornerstone Wealth Management LLC bought a new position in Sprague Resources in the second quarter worth about $505,000. Finally, Jane Street Group LLC bought a new position in Sprague Resources in the second quarter worth about $414,000. Institutional investors own 20.65% of the company’s stock.
NYSE SRLP opened at $25.18 on Friday. Sprague Resources has a 12-month low of $21.80 and a 12-month high of $29.00. The stock has a market cap of $567.88 million, a price-to-earnings ratio of 22.28 and a beta of 1.28.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be issued a dividend of $0.6675 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $2.67 dividend on an annualized basis and a dividend yield of 10.60%. Sprague Resources’s dividend payout ratio is currently 236.28%.
About Sprague Resources
Sprague Resources LP engages in the purchase, storage, distribution, and sale of refined petroleum products and natural gas in the United States. The company operates through four segments: Refined Products, Natural Gas, Materials Handling, and Other Operations. The Refined Products segment purchases and sells various refined products, such as heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline, and asphalt to wholesale, retail, and commercial customers.
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