Zacks Downgrades Compressco Partners to Neutral (GSJK)
Compressco Partners (NASDAQ:GSJK) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday. They currently have a $26.50 price target on the stock. Zacks‘s price target indicates a potential upside of 12.53% from the company’s current price.
Compressco Partners (NASDAQ:GSJK) traded down 0.25% on Wednesday, hitting $23.49. 238,357 shares of the company’s stock traded hands. Compressco Partners has a one year low of $18.78 and a one year high of $31.00. The stock has a 50-day moving average of $24.85 and a 200-day moving average of $25.01. The company has a market cap of $724.7 million and a price-to-earnings ratio of 18.93.
Compressco Partners (NASDAQ:GSJK) last issued its earnings results on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.02. Analysts expect that Compressco Partners will post $1.02 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Monday, July 21st will be paid a dividend of $0.4525 per share. This represents a $1.81 annualized dividend and a dividend yield of 7.69%. The ex-dividend date is Thursday, July 17th. This is an increase from Compressco Partners’s previous quarterly dividend of $0.45.
A number of other analysts have also recently weighed in on GSJK. Analysts at Raymond James upgraded shares of Compressco Partners from a “market perform” rating to a “strong-buy” rating in a research note on Monday. They now have a $33.00 price target on the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Compressco Partners in a research note on Monday, June 23rd. They now have a $27.00 price target on the stock, up previously from $26.00.
Compressco Partners, L.P. is a provider of wellhead compression-based production enhancement services (NASDAQ:GSJK).
To view Zacks’ full report, visit Zacks’ official website.
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