Analysts Anticipate CrossAmerica Partners LP (NYSE:CAPL) Will Post Quarterly Sales of $596.92 Million
Equities analysts forecast that CrossAmerica Partners LP (NYSE:CAPL) will post sales of $596.92 million for the current quarter, according to Zacks. Five analysts have provided estimates for CrossAmerica Partners’ earnings, with the lowest sales estimate coming in at $533.00 million and the highest estimate coming in at $727.13 million. CrossAmerica Partners reported sales of $512.64 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The company is expected to issue its next quarterly earnings report on Monday, August 7th.
According to Zacks, analysts expect that CrossAmerica Partners will report full year sales of $596.92 million for the current fiscal year, with estimates ranging from $2.02 billion to $2.59 billion. For the next year, analysts forecast that the firm will report sales of $2.43 billion per share, with estimates ranging from $2.04 billion to $2.99 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow CrossAmerica Partners.
CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Monday, May 8th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by $0.01. CrossAmerica Partners had a net margin of 0.44% and a return on equity of 3.91%. The business had revenue of $469.29 million for the quarter, compared to analysts’ expectations of $494.04 million.
Several brokerages recently weighed in on CAPL. BidaskClub upgraded CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Bank of America Corporation downgraded CrossAmerica Partners from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $30.00 in a research note on Wednesday, July 26th. Raymond James Financial, Inc. boosted their target price on CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded CrossAmerica Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $27.00 target price on shares of CrossAmerica Partners in a research note on Thursday, April 13th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $30.00.
A number of hedge funds have recently bought and sold shares of CAPL. Stephens Inc. AR increased its stake in CrossAmerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock valued at $235,000 after buying an additional 685 shares during the last quarter. Bank of Montreal Can purchased a new stake in CrossAmerica Partners during the second quarter valued at $255,000. Ameriprise Financial Inc. purchased a new stake in CrossAmerica Partners during the first quarter valued at $265,000. Wells Fargo & Company MN increased its stake in CrossAmerica Partners by 2.3% in the first quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 412 shares during the last quarter. Finally, Credit Suisse AG increased its stake in CrossAmerica Partners by 6.8% in the first quarter. Credit Suisse AG now owns 23,954 shares of the oil and gas company’s stock valued at $628,000 after buying an additional 1,523 shares during the last quarter. Institutional investors and hedge funds own 37.19% of the company’s stock.
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Shares of CrossAmerica Partners (NYSE CAPL) opened at 26.12 on Tuesday. The stock has a market capitalization of $880.92 million, a PE ratio of 124.98 and a beta of 1.34. The company’s 50 day moving average price is $26.17 and its 200 day moving average price is $25.67. CrossAmerica Partners has a 52-week low of $23.01 and a 52-week high of $29.80.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.6225 per share. This represents a $2.49 annualized dividend and a yield of 9.53%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s payout ratio is presently 1,245.06%.
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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