Global Partners LP (GLP) Scheduled to Post Earnings on Wednesday
Global Partners LP (NYSE:GLP) will post its quarterly earnings results before the market opens on Wednesday, November 8th. Analysts expect Global Partners to post earnings of $0.22 per share for the quarter.
Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Global Partners had a negative net margin of 1.83% and a positive return on equity of 0.21%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.22) earnings per share. On average, analysts expect Global Partners to post $0.89 EPS for the current fiscal year and $0.47 EPS for the next fiscal year.
Global Partners LP (NYSE GLP) opened at 17.75 on Wednesday. Global Partners LP has a 1-year low of $14.85 and a 1-year high of $21.95. The stock’s market capitalization is $595.58 million. The firm has a 50-day moving average of $17.54 and a 200-day moving average of $17.91.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.85 dividend on an annualized basis and a yield of 10.42%. Global Partners’s dividend payout ratio is currently -39.11%.
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Global Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Monday, July 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 price target on shares of Global Partners in a research note on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.40.
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Global Partners Company Profile
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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