CrossAmerica Partners LP (NYSE:CAPL) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS
CrossAmerica Partners LP (NYSE:CAPL) released its quarterly earnings results on Monday. The oil and gas company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.01, reports. CrossAmerica Partners had a return on equity of 3.91% and a net margin of 0.44%.
CrossAmerica Partners (CAPL) traded down 0.42% during mid-day trading on Monday, reaching $26.12. 58,252 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $26.17 and its 200 day moving average is $25.67. The stock has a market capitalization of $880.92 million, a PE ratio of 124.98 and a beta of 1.34. CrossAmerica Partners has a 1-year low of $23.01 and a 1-year high of $29.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.6225 dividend. This is an increase from CrossAmerica Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $2.49 dividend on an annualized basis and a yield of 9.53%. CrossAmerica Partners’s dividend payout ratio is presently 1,245.06%.
Several research analysts recently weighed in on the stock. BidaskClub upgraded shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Bank of America Corporation downgraded shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their price target for the stock from $28.00 to $30.00 in a research report on Wednesday, July 26th. Raymond James Financial, Inc. upped their price target on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Zacks Investment Research downgraded shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $27.00 price objective on shares of CrossAmerica Partners in a report on Thursday, April 13th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $30.00.
CrossAmerica Partners Company Profile
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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