Brokerages forecast that Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) will announce $911.66 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Calumet Specialty Products Partners, L.P.’s earnings. The lowest sales estimate is $881.00 million and the highest is $942.33 million. Calumet Specialty Products Partners, L.P. posted sales of $966.60 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that Calumet Specialty Products Partners, L.P. will report full-year sales of $911.66 million for the current financial year. For the next fiscal year, analysts expect that the company will post sales of $2.39 billion per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Calumet Specialty Products Partners, L.P..

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 4th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.58. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $841.00 million. Calumet Specialty Products Partners, L.P. had a negative return on equity of 48.17% and a negative net margin of 2.81%.

CLMT has been the subject of several research analyst reports. Zacks Investment Research lowered Calumet Specialty Products Partners, L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Janney Montgomery Scott raised Calumet Specialty Products Partners, L.P. from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $6.00 to $8.50 in a research report on Monday, August 14th. Cowen and Company reissued a “hold” rating and issued a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P. in a research report on Friday, July 14th. ValuEngine raised Calumet Specialty Products Partners, L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, BidaskClub lowered Calumet Specialty Products Partners, L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $6.00.

In other Calumet Specialty Products Partners, L.P. news, CFO David West Griffin acquired 6,100 shares of the stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $5.24 per share, with a total value of $31,964.00. Following the transaction, the chief financial officer now owns 43,152 shares in the company, valued at approximately $226,116.48. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 36,805 shares of company stock valued at $183,880. Corporate insiders own 4.75% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Sound Point Capital Management LP grew its stake in shares of Calumet Specialty Products Partners, L.P. by 6.8% in the 2nd quarter. Sound Point Capital Management LP now owns 799,651 shares of the oil and gas company’s stock valued at $3,399,000 after buying an additional 51,118 shares during the period. Adams Asset Advisors LLC grew its stake in shares of Calumet Specialty Products Partners, L.P. by 11.9% in the 2nd quarter. Adams Asset Advisors LLC now owns 705,332 shares of the oil and gas company’s stock valued at $2,998,000 after buying an additional 74,732 shares during the period. Morgan Stanley grew its stake in shares of Calumet Specialty Products Partners, L.P. by 13.5% in the 1st quarter. Morgan Stanley now owns 704,438 shares of the oil and gas company’s stock valued at $2,677,000 after buying an additional 83,995 shares during the period. Royal Bank of Canada grew its stake in shares of Calumet Specialty Products Partners, L.P. by 9.2% in the 2nd quarter. Royal Bank of Canada now owns 484,494 shares of the oil and gas company’s stock valued at $2,059,000 after buying an additional 40,676 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Calumet Specialty Products Partners, L.P. by 3.8% in the 2nd quarter. Wells Fargo & Company MN now owns 479,323 shares of the oil and gas company’s stock valued at $2,037,000 after buying an additional 17,573 shares during the period. 9.70% of the stock is owned by hedge funds and other institutional investors.

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Shares of Calumet Specialty Products Partners, L.P. (NASDAQ CLMT) opened at 8.2288 on Friday. The company’s market cap is $631.39 million. Calumet Specialty Products Partners, L.P. has a 12-month low of $2.79 and a 12-month high of $9.10. The company has a 50-day moving average price of $7.93 and a 200-day moving average price of $5.29.

About Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P. is a producer of specialty hydrocarbon products in North America. The Company operates through three segments: specialty products, fuel products and oilfield services. In its specialty products segment, the Company processes crude oil and other feedstocks into a range of customized lubricating oils, white mineral oils, solvents, petrolatums and waxes.

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