Global Partners Hits New 12-Month High at $45.00 (GLP)
Global Partners (NYSE:GLP)’s share price reached a new 52-week high on Tuesday , AmericanBankingNews.com reports. The stock traded as high as $45.00 and last traded at $44.23, with a volume of 13,906 shares changing hands. The stock had previously closed at $44.61.
A number of analysts have recently weighed in on GLP shares. Analysts at Zacks downgraded shares of Global Partners from an “outperform” rating to a “neutral” rating in a research note on Monday, July 21st. They now have a $45.20 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Global Partners in a research note on Monday, June 2nd. They now have a $41.00 price target on the stock, up previously from $35.00. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.30.
The stock has a 50-day moving average of $41.85 and a 200-day moving average of $39.5. The company has a market cap of $1.227 billion and a price-to-earnings ratio of 10.49.
Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.48 by $0.72. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the company posted $0.51 earnings per share. Global Partners’s revenue was down 8.5% compared to the same quarter last year. On average, analysts predict that Global Partners will post $2.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.6375 per share. This represents a $2.55 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Friday, August 1st. This is a positive change from Global Partners’s previous quarterly dividend of $0.63.
Global Partners LP is engaged in purchasing, storing, terminalling, transporting and selling refined petroleum products, renewable fuels and crude oil.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.