Zacks Upgrades Global Partners LP to Neutral (GLP)
Global Partners LP (NYSE:GLP) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report issued on Wednesday, ARN reports. The firm currently has a $34.10 price objective on the stock. Zacks‘ target price points to a potential upside of 2.43% from the company’s current price.
Global Partners LP (NYSE:GLP) traded down 1.83% during mid-day trading on Wednesday, hitting $32.68. The stock had a trading volume of 29,803 shares. Global Partners LP has a 52 week low of $21.93 and a 52 week high of $40.99. The stock’s 50-day moving average is $33.84 and its 200-day moving average is $35.84. The company has a market cap of $895.2 million and a P/E ratio of 18.03.
Global Partners LP (NYSE:GLP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.76 by $0.47. The company had revenue of $4.77 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Global Partners LP will post $1.82 earnings per share for the current fiscal year.
Global Partners LP (NYSE:GLP) is a master limited partnership engaged in the wholesale and commercial distribution of refined petroleum products and, natural gas and provides ancillary services to companies.
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