$60.42 Million in Sales Expected for GasLog Partners LP (GLOP) This Quarter
Brokerages expect that GasLog Partners LP (NYSE:GLOP) will post sales of $60.42 million for the current quarter, according to Zacks. Five analysts have issued estimates for GasLog Partners’ earnings. The highest sales estimate is $61.83 million and the lowest is $57.10 million. GasLog Partners reported sales of $49.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.7%. The company is expected to announce its next earnings results before the market opens on Thursday, July 27th.
On average, analysts expect that GasLog Partners will report full-year sales of $60.42 million for the current financial year, with estimates ranging from $246.83 million to $261.35 million. For the next year, analysts forecast that the business will report sales of $290.17 million per share, with estimates ranging from $249.19 million to $331.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow GasLog Partners.
GasLog Partners (NYSE:GLOP) last announced its quarterly earnings results on Thursday, April 27th. The shipping company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $57 million during the quarter, compared to analyst estimates of $57.02 million. GasLog Partners had a net margin of 35.19% and a return on equity of 11.77%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share.
GLOP has been the topic of several analyst reports. TheStreet upgraded GasLog Partners from a “c-” rating to a “b” rating in a report on Monday, May 8th. Barclays PLC assumed coverage on GasLog Partners in a report on Friday, April 21st. They issued an “equal weight” rating and a $26.00 target price on the stock. Jefferies Group LLC increased their price target on GasLog Partners from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Morgan Stanley upgraded GasLog Partners from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $23.50 to $26.00 in a report on Tuesday, June 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.17.
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Shares of GasLog Partners (NYSE:GLOP) opened at 24.20 on Friday. GasLog Partners has a one year low of $18.81 and a one year high of $25.20. The firm’s 50-day moving average is $22.71 and its 200 day moving average is $22.78. The firm has a market capitalization of $944.89 million, a P/E ratio of 10.97 and a beta of 1.64.
Several institutional investors have recently bought and sold shares of GLOP. Essex Financial Services Inc. acquired a new position in GasLog Partners during the first quarter worth about $204,000. Koch Industries Inc. acquired a new position in GasLog Partners during the first quarter worth about $206,000. HighTower Advisors LLC acquired a new position in GasLog Partners during the first quarter worth about $265,000. Stifel Financial Corp acquired a new position in GasLog Partners during the first quarter worth about $306,000. Finally, Janney Montgomery Scott LLC boosted its position in GasLog Partners by 8.1% in the first quarter. Janney Montgomery Scott LLC now owns 15,755 shares of the shipping company’s stock worth $386,000 after buying an additional 1,181 shares during the last quarter. Hedge funds and other institutional investors own 58.94% of the company’s stock.
GasLog Partners Company Profile
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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