Equities analysts predict that Global Partners LP (NYSE:GLP) will post $2.29 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Global Partners’ earnings, with estimates ranging from $2.17 billion to $2.42 billion. Global Partners posted sales of $2.31 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.9%. The firm is scheduled to announce its next earnings results on Thursday, March 8th.

On average, analysts expect that Global Partners will report full-year sales of $2.29 billion for the current year, with estimates ranging from $8.44 billion to $8.94 billion. For the next year, analysts forecast that the firm will report sales of $8.87 billion per share, with estimates ranging from $7.82 billion to $9.82 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Global Partners.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.25 by $0.19. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.29 billion. Global Partners had a positive return on equity of 3.95% and a negative net margin of 0.28%. Global Partners’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted ($3.54) EPS.

Several research firms have recently commented on GLP. BidaskClub upgraded Global Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and issued a $21.00 price objective on shares of Global Partners in a research note on Friday, July 28th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of Global Partners in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Global Partners currently has a consensus rating of “Hold” and an average price target of $19.00.

Hedge funds have recently modified their holdings of the business. Kayne Anderson Capital Advisors LP increased its stake in Global Partners by 3.0% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,820,223 shares of the energy company’s stock worth $32,851,000 after buying an additional 53,700 shares in the last quarter. HITE Hedge Asset Management LLC increased its stake in Global Partners by 5.2% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 653,220 shares of the energy company’s stock worth $11,791,000 after buying an additional 32,000 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Global Partners by 20.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 951,845 shares of the energy company’s stock worth $17,181,000 after buying an additional 159,895 shares in the last quarter. GSA Capital Partners LLP increased its stake in Global Partners by 267.8% in the 2nd quarter. GSA Capital Partners LLP now owns 48,556 shares of the energy company’s stock worth $876,000 after buying an additional 35,356 shares in the last quarter. Finally, Cutler Capital Management LLC purchased a new stake in Global Partners in the 2nd quarter worth $254,000. Institutional investors and hedge funds own 40.02% of the company’s stock.

Shares of Global Partners (NYSE GLP) opened at $17.50 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 2.95. The company has a market capitalization of $589.83, a price-to-earnings ratio of 37.72 and a beta of 1.11. Global Partners has a 12 month low of $15.20 and a 12 month high of $21.95.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Thursday, November 9th were paid a $0.4625 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $1.85 dividend on an annualized basis and a yield of 10.57%. Global Partners’s payout ratio is presently -246.67%.

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About Global Partners

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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