Zacks: Analysts Anticipate Calumet Specialty Products Partners, L.P (CLMT) Will Post Earnings of -$0.55 Per Share

Analysts expect Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to post ($0.55) earnings per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Calumet Specialty Products Partners, L.P’s earnings. The highest EPS estimate is ($0.51) and the lowest is ($0.60). Calumet Specialty Products Partners, L.P posted earnings per share of ($0.98) during the same quarter last year, which would indicate a positive year-over-year growth rate of 43.9%. The company is scheduled to announce its next earnings results on Friday, February 23rd.

According to Zacks, analysts expect that Calumet Specialty Products Partners, L.P will report full-year earnings of ($0.89) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($0.77). For the next financial year, analysts forecast that the firm will report earnings of ($0.95) per share, with EPS estimates ranging from ($1.33) to ($0.55). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Calumet Specialty Products Partners, L.P.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last issued its quarterly earnings results on Thursday, December 28th. The oil and gas company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.55). Calumet Specialty Products Partners, L.P had a negative return on equity of 48.84% and a negative net margin of 2.47%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1 billion.

CLMT has been the topic of several research analyst reports. Cowen reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Calumet Specialty Products Partners, L.P in a research note on Tuesday, October 17th. Zacks Investment Research lowered Calumet Specialty Products Partners, L.P from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. Finally, BidaskClub lowered Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.29.

A number of large investors have recently added to or reduced their stakes in CLMT. Westwood Holdings Group Inc. acquired a new stake in Calumet Specialty Products Partners, L.P in the second quarter valued at about $110,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Calumet Specialty Products Partners, L.P during the fourth quarter valued at about $130,000. Jane Street Group LLC acquired a new stake in shares of Calumet Specialty Products Partners, L.P during the third quarter valued at about $145,000. JPMorgan Chase & Co. boosted its stake in shares of Calumet Specialty Products Partners, L.P by 350.0% during the second quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Calumet Specialty Products Partners, L.P during the fourth quarter valued at about $178,000. 14.03% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded down $0.05 during trading hours on Tuesday, reaching $7.35. The company had a trading volume of 124,899 shares, compared to its average volume of 335,103. The firm has a market capitalization of $539.44, a price-to-earnings ratio of -5.83 and a beta of 1.14. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 10.67. Calumet Specialty Products Partners, L.P has a fifty-two week low of $3.40 and a fifty-two week high of $9.95.

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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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