Global Partners Given New $40.00 Price Target at RBC Capital (GLP)
RBC Capital dropped their price objective on shares of Global Partners (NYSE:GLP) from $43.00 to $40.00 in a research note issued on Friday. RBC Capital’s price target would suggest a potential upside of 5.04% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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. Finally, analysts at Barclays raised their price target on shares of Global Partners from $37.00 to $40.00 in a research note on Monday, May 12th. They now have an “equal weight” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Global Partners has a consensus rating of “Hold” and an average price target of $41.55.
Global Partners (NYSE:GLP) opened at 38.08 on Friday. Global Partners has a 1-year low of $30.25 and a 1-year high of $45.00. The stock’s 50-day moving average is $41.76 and its 200-day moving average is $39.71. The company has a market cap of $1.038 billion and a P/E ratio of 8.96.
Global Partners (NYSE:GLP) last released its earnings data on Thursday, August 7th. The company reported ($0.50) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.13) by $0.37. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.91 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Global Partners will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors 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 6.70%. The ex-dividend date is Friday, August 1st. This is an increase 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.