-$0.16 EPS Expected for Calumet Specialty Products Partners, L.P (CLMT) This Quarter

Analysts forecast that Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) will announce ($0.16) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Calumet Specialty Products Partners, L.P’s earnings. The lowest EPS estimate is ($0.30) and the highest is ($0.01). Calumet Specialty Products Partners, L.P posted earnings of ($0.39) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 59%. The company is expected to issue its next earnings report on Thursday, December 27th.

On average, analysts expect that Calumet Specialty Products Partners, L.P will report full-year earnings of ($1.00) per share for the current fiscal year, with EPS estimates ranging from ($1.16) to ($0.83). For the next fiscal year, analysts expect that the company will post earnings of $0.27 per share, with EPS estimates ranging from $0.04 to $0.43. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Calumet Specialty Products Partners, L.P had a negative net margin of 3.94% and a negative return on equity of 45.02%. The company had revenue of $945.50 million during the quarter, compared to the consensus estimate of $829.99 million.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners, L.P from a “strong-buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, ValuEngine downgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a report on Monday, August 20th.

In related news, CFO David West Griffin acquired 11,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was bought at an average cost of $6.57 per share, with a total value of $72,270.00. Following the acquisition, the chief financial officer now owns 65,405 shares of the company’s stock, valued at approximately $429,710.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 41,205 shares of company stock valued at $269,925 over the last ninety days. 4.75% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Barnett & Company Inc. lifted its stake in Calumet Specialty Products Partners, L.P by 18.5% in the second quarter. Barnett & Company Inc. now owns 248,300 shares of the oil and gas company’s stock worth $1,850,000 after purchasing an additional 38,800 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Calumet Specialty Products Partners, L.P by 87.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 43,000 shares of the oil and gas company’s stock worth $320,000 after purchasing an additional 20,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Calumet Specialty Products Partners, L.P by 133.9% in the second quarter. Renaissance Technologies LLC now owns 472,299 shares of the oil and gas company’s stock valued at $3,519,000 after acquiring an additional 270,409 shares during the period. OppenheimerFunds Inc. purchased a new position in shares of Calumet Specialty Products Partners, L.P in the second quarter valued at about $298,000. Finally, Creative Planning increased its position in shares of Calumet Specialty Products Partners, L.P by 199.3% in the third quarter. Creative Planning now owns 55,565 shares of the oil and gas company’s stock valued at $356,000 after acquiring an additional 37,000 shares during the period. 14.00% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CLMT traded down $0.81 during mid-day trading on Monday, reaching $3.86. 928,443 shares of the company were exchanged, compared to its average volume of 317,729. Calumet Specialty Products Partners, L.P has a 52 week low of $3.79 and a 52 week high of $9.90. The company has a debt-to-equity ratio of 29.68, a quick ratio of 0.75 and a current ratio of 1.45. The company has a market capitalization of $370.08 million, a P/E ratio of -6.88 and a beta of 1.54.

About Calumet Specialty Products Partners, L.P

Calumet Specialty Products Partners, L.P. produces and sells specialty hydrocarbon products in North America and internationally. It operates in two segments, Specialty Products and Fuel Products. The Specialty Products segment offers various lubricating oils, white mineral oils, solvents, petrolatums, waxes, synthetic lubricants, and other products which are used primarily as raw material components for basic automotive, industrial, and consumer goods.

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