GasLog Partners LP (GLOP) Expected to Post Quarterly Sales of $70.99 Million
Equities research analysts expect that GasLog Partners LP (NYSE:GLOP) will report sales of $70.99 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for GasLog Partners’ earnings. The highest sales estimate is $72.15 million and the lowest is $70.20 million. GasLog Partners reported sales of $51.45 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 38%. The firm is scheduled to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that GasLog Partners will report full year sales of $70.99 million for the current fiscal year, with estimates ranging from $255.20 million to $265.79 million. For the next fiscal year, analysts anticipate that the business will report sales of $297.01 million per share, with estimates ranging from $269.42 million to $331.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for GasLog Partners.
GasLog Partners (NYSE:GLOP) last issued its earnings results on Thursday, July 27th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.11. The firm had revenue of $65.27 million during the quarter, compared to the consensus estimate of $61.86 million. GasLog Partners had a net margin of 35.43% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share.
Several research analysts recently weighed in on GLOP shares. TheStreet upgraded shares of GasLog Partners from a “c-” rating to a “b” rating in a report on Monday, May 8th. Zacks Investment Research cut shares of GasLog Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Barclays PLC started coverage on shares of GasLog Partners in a report on Friday, April 21st. They set an “equal weight” rating and a $26.00 price target on the stock. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of GasLog Partners in a report on Tuesday, July 4th. Finally, Morgan Stanley upgraded shares of GasLog Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.50 to $26.00 in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.40.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Essex Financial Services Inc. bought a new position in GasLog Partners during the first quarter worth $204,000. Koch Industries Inc. bought a new position in GasLog Partners during the first quarter worth $206,000. Meridian Wealth Management LLC bought a new position in GasLog Partners during the second quarter worth $252,000. HighTower Advisors LLC bought a new position in GasLog Partners during the first quarter worth $265,000. Finally, Stifel Financial Corp bought a new position in GasLog Partners during the first quarter worth $306,000. Hedge funds and other institutional investors own 58.44% of the company’s stock.
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Shares of GasLog Partners (GLOP) opened at 23.75 on Monday. The company has a market capitalization of $937.27 million, a PE ratio of 11.90 and a beta of 1.66. GasLog Partners has a one year low of $18.82 and a one year high of $25.45. The stock has a 50 day moving average of $23.54 and a 200-day moving average of $23.34.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 8.59%. This is a boost from GasLog Partners’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, August 3rd. GasLog Partners’s payout ratio is presently 94.88%.
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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