Sprague Resources (SRLP) Announces Quarterly Earnings Results, Misses Estimates By $0.49 EPS
Sprague Resources (NASDAQ:SRLP) released its earnings data on Wednesday. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by $0.49, Stock Ratings News reports. The company had revenue of $846.80 million for the quarter, compared to the consensus estimate of $523.33 million.
A number of analysts have recently weighed in on SRLP shares. Analysts at Zacks downgraded shares of Sprague Resources from an “outperform” rating to a “neutral” rating in a research note on Monday, August 4th. They now have a $28.30 price target on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Sprague Resources from an “overweight” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $25.00 price target on the stock, up previously from $22.00. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.83.
Shares of Sprague Resources (NASDAQ:SRLP) opened at 25.12 on Wednesday. Sprague Resources has a 1-year low of $16.73 and a 1-year high of $27.30. The stock’s 50-day moving average is $24.7 and its 200-day moving average is $21.82. The company has a market cap of $506.7 million and a P/E ratio of 16.26.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 14th. Investors of record on Friday, August 8th will be paid a dividend of $0.427 per share. This represents a $1.71 annualized dividend and a dividend yield of 6.89%. The ex-dividend date is Wednesday, August 6th. This is an increase from Sprague Resources’s previous quarterly dividend of $0.41.
Sprague Resources LP is engaged in the purchase, storage, distribution and sale of refined petroleum products.
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