Suburban Propane Partners (SPH) Releases Quarterly Earnings Results
Suburban Propane Partners (NYSE:SPH) issued its quarterly earnings data on Thursday. The company reported ($0.98) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.57) by $0.41, Stock Ratings Network reports. The company had revenue of $297.10 million for the quarter, compared to the consensus estimate of $332.05 million. During the same quarter last year, the company posted ($0.77) earnings per share. Suburban Propane Partners’s revenue was up 2.2% compared to the same quarter last year.
Suburban Propane Partners (NYSE:SPH) traded down 0.26% during mid-day trading on Thursday, hitting $42.50. 69,675 shares of the company’s stock traded hands. Suburban Propane Partners has a 52 week low of $39.91 and a 52 week high of $48.90. The stock has a 50-day moving average of $45.53 and a 200-day moving average of $44.38. The company has a market cap of $2.563 billion and a P/E ratio of 25.79.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.875 per share. This represents a $3.50 annualized dividend and a dividend yield of 8.21%. The ex-dividend date is Friday, August 1st.
SPH has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Suburban Propane Partners in a research note on Tuesday, July 29th. They now have a $44.00 price target on the stock, up previously from $42.50. On a related note, analysts at Zacks downgraded shares of Suburban Propane Partners from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 10th. They now have a $50.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Suburban Propane Partners in a research note on Monday, June 2nd. They now have a $49.00 price target on the stock, up previously from $47.00. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Suburban Propane Partners currently has an average rating of “Hold” and a consensus price target of $46.00.
Suburban Propane Partners, L.P. (NYSE:SPH) is a nationwide marketer and distributor of a range of products meeting the energy needs of the customers.
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