$716.80 Million in Sales Expected for Calumet Specialty Products Partners, L.P (CLMT) This Quarter

Equities analysts expect Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) to report sales of $716.80 million for the current quarter, according to Zacks. Two analysts have made estimates for Calumet Specialty Products Partners, L.P’s earnings, with the highest sales estimate coming in at $823.60 million and the lowest estimate coming in at $610.00 million. Calumet Specialty Products Partners, L.P reported sales of $946.90 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 24.3%. The firm is expected to issue its next earnings report on Friday, February 23rd.

According to Zacks, analysts expect that Calumet Specialty Products Partners, L.P will report full year sales of $716.80 million for the current fiscal year, with estimates ranging from $3.68 billion to $3.89 billion. For the next year, analysts expect that the firm will post sales of $2.84 billion per share, with estimates ranging from $2.58 billion to $3.11 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for 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) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.55). The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1 billion. Calumet Specialty Products Partners, L.P had a negative return on equity of 48.84% and a negative net margin of 2.47%.

Several analysts have recently commented on the stock. BidaskClub upgraded shares of Calumet Specialty Products Partners, L.P from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of Calumet Specialty Products Partners, L.P from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Calumet Specialty Products Partners, L.P presently has a consensus rating of “Hold” and an average price target of $6.29.

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) opened at $7.40 on Thursday. The company has a market cap of $567.80, a price-to-earnings ratio of -5.87 and a beta of 1.14. Calumet Specialty Products Partners, L.P has a 52-week low of $3.40 and a 52-week high of $9.95. The company has a debt-to-equity ratio of 10.67, a quick ratio of 0.83 and a current ratio of 1.36.

Several hedge funds have recently made changes to their positions in CLMT. Westwood Holdings Group Inc. bought a new stake in shares of Calumet Specialty Products Partners, L.P during the 2nd quarter valued at $110,000. Kohmann Bosshard Financial Services LLC bought a new stake in Calumet Specialty Products Partners, L.P in the 4th quarter valued at $130,000. Jane Street Group LLC bought a new stake in Calumet Specialty Products Partners, L.P in the 3rd quarter valued at $145,000. JPMorgan Chase & Co. increased its holdings in Calumet Specialty Products Partners, L.P by 350.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,000 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 28,000 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Calumet Specialty Products Partners, L.P in the 4th quarter valued at $178,000. Hedge funds and other institutional investors own 14.03% of the company’s stock.

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Calumet Specialty Products Partners, L.P Company Profile

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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